Posted in home improvement loans

Will Lower Mortgage Rates Aid NVR to Post Higher Q3 Earnings?

NVR, Inc.’s NVR third-quarter 2020 earnings and revenues are expected to have registered an improvement on a year-over-year basis.

In the last reported quarter, the company’s earnings and revenues missed the Zacks Consensus Estimate by 5.3% and 3.5%, respectively. On a year-over-year basis, earnings and revenues decreased 19.9% and 10%, respectively, as the COVID-19 outbreak had a significant impact on all facets of its busines.

Nonetheless, the company has a strong earnings surprise history, having surpassed analysts’ expectations in 12 of the trailing 14 quarters.

Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has increased 1.3% to $62.01 over the past seven days. The estimated figure indicates an increase of 10.5% from the year-ago quarter. The consensus mark for revenues is pegged at $2 billion, suggesting a 7% increase from the year-ago reported figure of $1.87 billion.

NVR, Inc.

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Posted in home improvement loans

Mnuchin and Powell back jobless aid, small business loans

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell said Thursday that the government’s top priorities in any new economic relief package should be to provide affordable loans to small businesses and further support for millions of Americans still unemployed.

With the prospects for any new federal aid package appearing dim, members of the Senate Banking Committee pressed both officials to list improvements that could be quickly made in the nearly $3 trillion in support that Congress has passed to fight the pandemic-induced recession that has nearly 11 million people still jobless.

Democrats on the panel urged Mnuchin, one of the administration’s top negotiators, to work harder to persuade Republicans in Congress to raise the amount of money they would be willing to support in a new bill. And Republicans urged Democratic members to consider a lower amount that might clear both the House and Senate

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Posted in home improvement loans

Mnuchin and Powell back jobless aid and small business loans | WGN Radio 720

Treasury Secretary Steve Mnuchin testifies during the Senate’s Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Capitol Hill, Wednesday, Sept. 24, 2020, in Washington. (Toni L. Sandys/The Washington Post via AP, Pool)

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell said Thursday that the government’s top priorities in any new economic relief package should be to provide affordable loans to small businesses and further support for millions of Americans still unemployed.

With the prospects for any new federal aid package appearing dim, members of the Senate Banking Committee pressed both officials to list improvements that could be quickly made in the nearly $3 trillion in support that Congress has passed to fight the pandemic-induced

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Posted in home improvement loans

Low Rates to Aid KB Home (KBH) Q3 Earnings Amid Coronavirus?

KB Home KBH is slated to report third-quarter fiscal 2020 (ended Aug 31, 2020) results on Sep 22, after market close.

In the last reported quarter, its earnings missed the Zacks Consensus Estimate by 3.5%, after surpassing the same in each of the prior 17 quarters. Revenues also missed the consensus mark in the fiscal second quarter by 14.8%. On a year-over-year basis, its bottom line increased while top line declined on lower deliveries and average selling price (ASP).

Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings has increased 4.3% over the past 60 days to 48 cents per share. The estimate indicates a 34.3% decrease from the year-ago earnings of 73 cents per share. The consensus estimate for revenues is pegged at $895.8 million, suggesting a decline of 22.8% from the prior-year quarter.

KB Home Price and EPS Surprise

KB Home Price and EPS Surprise

KB Home

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Posted in home improvement loans

Loan Growth to Aid Bank OZK’s (OZK) Top Line Amid Low Rates

Bank OZK OZK remains well-poised for top-line growth, supported by steadily improving loans along with its strategic growth initiatives. Moreover, given a solid balance sheet position, the company will likely continue to enhance shareholder value through efficient capital deployment activities.

However, pressure on margins remains a major near-term concern for Bank OZK. Continuously increasing operating expenses and the company’s exposure toward risky loans are other major headwinds.

The Zacks Consensus Estimate for its current-year earnings has been unchanged over the past 30 days. As a result, the company currently carries a Zacks Rank #3 (Hold).

Over the past six months, shares of Bank OZK have gained 12.7% compared with a rise of 3.1% of the industry it belongs to.

Looking at fundamentals, though the company’s revenues declined in 2019 and the first half of 2020, the same witnessed a CAGR of 22.8% over the last six years (2014-2019), mainly driven

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Posted in home remodeling

USDA Boss’s Home State Got Most Trade Aid Per Farmer, GAO Finds

(Bloomberg) — Farmers in U.S. Agriculture Secretary Sonny Perdue’s home state of Georgia received the highest average payments last year under President Donald Trump’s trade aid program, the Government Accountability Office found in a report released Monday.

Senate Democrats said the findings confirm their long-standing complaints that Trump’s $28 billion trade aid program was unfair to family farmers in the Midwest because farms in the South got higher average payments and a large portion of aid went to bigger farms.

“It’s just not been fair,” said Senator Debbie Stabenow of Michigan, the top-ranking Democrat on the Senate Agriculture Committee, who along with other Democrats requested the investigation. Perdue “certainly put together a program that favored the crops in his home state.”

Rural voters are a key constituency for Trump as he heads into the November election, and government aid has become an increasingly important source of income for farmers amid

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Posted in home improvement loans

Will Low Mortgage Rates Aid Lennar’s (LEN) Q3 Earnings?

Lennar Corporation LEN is slated to report results for third-quarter fiscal 2020 (ended Aug 31) after the closing bell on Sep 14.

In the last reported quarter, the company’s earnings topped the Zacks Consensus Estimate by 27.9% but revenues missed the same by 0.03%. Notably, this Miami-based homebuilder surpassed earnings expectations in nine of the trailing 10 quarters.

On a year-over-year basis, earnings grew 27%. The results mainly benefited from effective cost control and focus on making its homebuilding platform more efficient, which in turn resulted in higher operating leverage. However, revenues decreased 5% due to lower average sales price or ASP of homes delivered.

Lennar Corporation Price and EPS Surprise

Lennar Corporation Price and EPS Surprise

Lennar Corporation price-eps-surprise | Lennar Corporation Quote

Trend in Estimate Revision

For the quarter to be reported, the Zacks Consensus Estimate for earnings per share has been unchanged at $1.51 over the past 60 days. The estimated figure indicates

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Posted in renovation

Renovation aid has big scope: Heritage hoteliers | Ahmedabad News

Ahmedabad: Tour operators and heritage hoteliers of Gujarat have lauded the state government’s renewed heritage tourism and homestay policy.
Financial assistance from the state government for restoration and renovation of heritage properties was one of the key demands of heritage hoteliers and tourism industry experts for years.
Industry players feel that Gujarat, which is home to at least 90 small and big palaces, will greatly benefit from this policy and if executed well, it can turn the state into a heritage tourism hub.
“Royal families who have been managing several heritage properties in Gujarat are the ethos of the state’s culture. However, most of them are in a state of neglect because it takes a humongous amount to restore the property keeping in mind its original structure and heritage value. For a long time, existing properties could not avail the benefits from the policies. The state government’s decision will provide

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