(The march 27 story corrects company name in paragraphs 13, 16, and 18.)
FILE PHOTO: Newly constructed houses built by Lennar Corp are pictured in Leucadia, California March 18, 2015. REUTERS/Mike Blake/File Photo
By Sanjana Shivdas
(Reuters) – Lennar Corp on Wednesday pointed to an improving housing market, as home prices moderate and mortgage rates ease following a pause in rate hikes by the U.S. Federal Reserve.
Shares of Lennar rose 4.5 percent, and lifted homebuilders PulteGroup Inc, D.R. Horton, Toll Brothers Inc, KB Home between 2 and 5 percent.
The No.2 U.S. homebuilder said it will focus on keeping prices down and making houses more affordable for customers across the board.
The moderation in mortgage rates and house prices will likely improve affordability,