Dec 14 (Reuters) - Homebuilder Lennar Corp (LEN.N) on Wednesday forecast a slowdown in new orders for the first quarter as high mortgage rates make properties unaffordable for some buyers.
Lennar expects new orders in the current quarter to be between 12,000 and 13,500 homes, compared with new orders for 13,200 homes in the fourth quarter.
However, the U.S. Federal Reserve's aggressive monetary policy tightening to curb decades-high inflation has made borrowing more difficult for customers as mortgage rates have more than doubled since the beginning of the year.
Sales of previously owned homes fell for an eighth straight month in September, while homebuilding dropped, signaling that higher mortgage rates are choking the housing market.
Net income attributable to Lennar rose to $1.32 billion, or $4.55 per share, in the fourth quarter, from $1.19 billion, or $3.91 per share, a year earlier.