Toll's Rock-Bottom Mortgage Rate Could Ripple Across Sector

[Joseph Burkeson, CMI]

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 ...

[Blaine Wiley]

Looks like they bought down the available rate of 4.25% so they could sell houses. Hasn't Toll Bros. been in trouble like most other builders? I used to inspect a bunch of their homes.

I've had several clients in the last couple of months that have locked at 4.25% fixed for 30 years.