Forecast

James Hardie raises 2021 profit forecast on high demand for renovation

Adds details on markets, 2021 forecast

Oct 14 (Reuters)Australian building materials supplier James Hardie Industries JHX.AX on Wednesday raised its full-year profit forecast and said it expected to post record second-quarter results, boosted by solid demand for its services across markets.

Since the COVID-19 pandemic related shutdowns hammered sales earlier in the year, there has been a recovery in Asia Pacific and European markets.

James Hardie, the world’s biggest fibre cement maker, said the all-time high quarterly sales were “made possible by having all three operating regions deliver growth above market.”

In August, it said sales in North America, one of its biggest markets, were buyoed by homeowners turning to renovation amid the pandemic.

The company increased its fiscal 2021 forecast for underlying net operating profit after tax (NOPAT) to between $380 million and $420 million, from an earlier projection of $330 million and $390 million.

It will report its second quarter results on Nov. 10.

(Reporting by Anushka Trivedi and Nikhil Kurian Nainan in Bengaluru; Editing by Chris Reese and Shinjini Ganguli)

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Mortgage rate forecast Q4: Will the low rates continue? | Money

However, Ken H. Johnson, a housing economist at Florida Atlantic University, is less optimistic about a quick economic recovery. “Rates will remain low for at least another year,” he says. “I just do not see full or near-full economic recovery until COVID-19 no longer or minimally impacts the economy.”

— Economic recovery could boost rates

Greg McBride, CFA, Bankrate’s chief financial analyst, sees rates holding steady in the coming year. “Mortgage rates will remain at historically low levels and in no way be an impediment to well-qualified borrowers, but they won’t be quite as low as what was seen in the summer of 2020,” he says. “A refinance fee taking effect in Q4 2020 and further economic improvement will push rates a bit higher.”

Audrey Boissonou of Guarantee Mortgage in Walnut Creek, California, says the direction of the economy will prove crucial. “I’m locking people in in the high 2s right now,” she says. “I am seeing nothing that makes me think rates will go up. Of course, it all depends on what happens in the next few months. It can all change on a dime.”

Predicting rates is always a challenge, as Boissonou notes. But if the Fed’s attitude is any indication, then rates could remain low over the next year.

The Fed has set a pattern of keeping long rates low in challenging times, says William Emmons, the lead economist at the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis. “The demonstrated willingness of the Fed is to do the old cliche of ‘whatever it takes,'” says Emmons, who adds that he doesn’t state the Fed’s official position. “That’s pretty widespread, the belief that the Fed will do whatever it takes.”

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Number of homes destroyed in Glass Fire increases as winds forecast to pick up

With a hot and dry air mass overhead, the Glass Fire in the North Bay swelled 5,000 acres overnight and more spread is expected Thursday with winds kicking up.

The burn area that’s northeast of Santa Rosa grew from 51,266 acres Wednesday night to 56,781 acres Thursday morning. Containment increased from 2% to 5%, according to Cal Fire’s Thursday morning incident report.

Flames have destroyed more than 200 structures, including 143 single-family homes. Of those homes, 36 are in Sonoma County and 107 in Napa County. (See Cal Fire’s full report for further information on structure damage.) A total of 27,000 structures remain threatened.

New evacuation warnings were announced last night for people living north of Calistoga. (You can find details on the order here.)


Firefighters are preparing for winds to pick up Thursday into Friday, focusing on building containment lines and protecting structures before fire activity resurges.

“We’re looking at a similar wind event to when this fire first ignited three days ago,” Cal Fire incident commander Billy See said in a Wednesday afternoon press briefing. “We’re preparing for the worst-case scenario and hoping for the best. Our firefighters will be working to maintain lines.”

Ahead of the wind event, the National Weather Service issued a red flag warning for the North Bay mountains 1 p.m. Thursday through 6 p.m. Friday with gusts up to 30 mph possible at the highest elevations.

“This wind event is going to be serious enough for everyone to pay attention,” added Santa Rosa Fire Chief Anthony Gossner. “You need to pay attention. It’s vital. Everyone keeps asking how serious is it? We don’t know how serious it will be until it happens.”

Cal Fire officials will give an update on the fire in a briefing at 1:30 p.m. Thursday. You can watch

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Home equity rates 2020 review and forecast

The year 2020 has been packed full of health and financial challenges for many Americans. Yet for home equity borrowers, there’s been some good news too. Interest rates are low, and the Federal Reserve has indicated that they’re likely to stay that way for the foreseeable future.



a living room filled with furniture and a large window: Home equity rates forecast for 2020


© Tom Merton/Getty Images
Home equity rates forecast for 2020

In many situations, leveraging the equity in your home can be a smart strategy. Home equity loans can help you accomplish big-ticket goals like paying for a child’s education, making major home improvements and consolidating higher-interest debt. Better yet, when you borrow against your home equity, you may be able to reach these goals at a low interest cost and without pulling money out of savings.

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Home equity rates in 2020: Initial predictions vs. reality

At the beginning of 2020, no one could have accurately predicted all of the events that would unfold this year. In January, Federal Reserve officials decided to keep rates as they were after cutting rates three times in 2019. The Fed also indicated that further rate cuts were unlikely in the near future.

Yet despite early predictions, further rate reductions took place. On March 15, the Fed lowered benchmark rates to 0 to 0.25 percent, marking the biggest emergency rate reduction in its 100-plus year history.

When the Federal Reserve adjusts its rates, it can affect the interest rates lenders offer borrowers as well. Mortgages, HELOCs and home equity loans are just a few examples of the types of financial products that may undergo rate fluctuations based on the actions of the Federal Reserve.

Bankrate’s weekly rates survey in late March found the average rate for a $30,000 HELOC to be 5.43 percent. By September 2020, that same average rate dropped to 4.55 percent. The same

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US Home Improvement Statistics 2020 | Market Size, Future Demand, Technology, Top Leading Player, Emerging Trends and Regional Forecast to 2025

The MarketWatch News Department was not involved in the creation of this content.

Sep 23, 2020 (Heraldkeepers) —
Global Home Improvement Market is valued at USD 849.31 Billion in 2019 and expected to reach USD 1155.79 Billion by 2026 with the CAGR of 4.5% over the forecast period.

Brandessece Market Research recently added the Home Improvement Market research report which offers a thorough study of the market scenario regarding the market size, share, demand, growth, trends, and forecast from 2020-2026. The report deals with the impact analysis of the COVID-19 pandemic. The COVID-19 pandemic has impacted exports, imports, demand and trends in the industry and is expected to have some economic impact on the market. The report offers a comprehensive analysis of the impact of the pandemic across the industry and provides insights into a post-COVID-19 market scenario.

Get Sample of This [email protected] https://brandessenceresearch.com/requestSample/PostId/1328

Scope of US Home Improvement Market Report-

The home improvement referred as the process of renovating or making additions to one’s home. It is also known as remodeling or renovation. It can consist of activities which upgrade existing home interior, exterior or other improvements to the property. This is because home improvement is also a great opportunity to improve the comfort, safety and energy performance of house or apartment by adding or raise insulation. While home improvement often refers to building projects that change the structure of an existing home, it can also include improvements to lawns, gardens and outdoor structures, such as gazebos and garages. It also includes maintenance, repair, and general servicing tasks. US home improvement industry is expected to show a significant growth in the coming few years. According to the Joint Center for Housing Studies of Harvard University; Boomers are expected to account for 56% of all residential remodeling spending by 2025,

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