Maybe the money train is beginning to loosen up once again?
Toll’s Rock-Bottom Mortgage Rate Could Ripple Across Sector
NEW YORK (Dow Jones)–Toll Brothers (TOL) just lowered the bar for the home building industry.
Horsham, Penn.-based Toll this week started offering a 3.99% fixed mortgage rate for loans $417,000 or below for 30 years with no points, one of - if not the - industry’s lowest rates, one well below the national average of just below 5%.
It’s too early to say if other builders will copy the attention-grabbing rate, but as the market worsens, competition is fierce and this move could launch a scramble to match …