US homebuilder stocks surge after Fed rate cuts

WASHINGTON, D.C.: The Federal Reserve's rate-cut cycle is expected to ease pressure on mortgage rates, driving demand for new homes, even as shares of major U.S. homebuilders rose in early trading on September 19.

The U.S. central bank kicked off an anticipated series of interest rate cuts this week with a larger-than-usual half-percentage-point reduction. This reduction is expected to reduce mortgage rates furt