D. R. Horton's fiscal fourth-quarter net income fell sharply as a recent spike in mortgage rates weighed on new orders and boosted cancellations.
The home builder warned the slump is likely to continue into fiscal 2027. Revenue and order volumes were impacted by the rising cost of borrowing, which cooled buyer demand during the period. The company cited affordability challenges as a primary driver for the downturn in its core operations.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing