Rates Spur Beazer to Lower Forecast

Bloomberg News
September 2006
American Banker;9/8/2006, Vol. 171 Issue 173, p17
Trade Publication
The article reports that the Atlanta builder Beazer Homes USA Inc. has cut its earnings forecast by as much as 18%, because higher mortgage rates have prompted cancellations and lower sales. Net sales in the two months ending August 31, 2006 fell 49% from a year earlier, and the rate of contract cancellations nearly doubled, to 50%.


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