#builder-incentives

#builder-incentives

"As we anticipated on our last call, we did expect to lean in more heavily to the offering of 3.99% [mortgage rate buydown]," said Jessica Hansen, D.R. Horton's senior vice president of investor relations. "That is something that we've been doing, and we saw the mortgage rate in our backlog come down. It's actually below 5% today coming into this quarter."

New construction homes often have less wiggle room on base price, but builders may offer significant incentives during negotiations to help buyers secure deals.