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PulteGroup Chief Financial Officer Robert O’Shaughnessy recently said in a call, “Driven primarily by increases in lumber and labor, our house costs will be higher in 2021.”
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Navigating the Transition: The Shift in Mortgage Lending Rates The mortgage industry is witnessing a significant shift in lending rates, influencing both lenders and borrowers. This article explores the implications of these changes and strategies for adapting to new market conditions.
Estimated reading time: 0 minutes, 23 seconds
Spike in Wood Costs Pushes Home Prices Higher
The cost of new homes is feeling upward pressure due to soaring lumber prices. Softwood lumber, which is normally used in house frames, almost doubled between April 2020 and January 2021, according to the Department of Labor’s producer price index. So reports BankRate.com.
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