Homebuilders face affordability hurdles this spring

By Alex Veiga, The Associated Press
A pullback in mortgage rates has helped boost homebuilder stocks this year after a dismal 2018, when the U.S. housing market slowed under the weight of higher borrowing costs, rising prices and a thin supply of homes for sale.
Investors are betting that the decline in the average rate for a 30-year mortgage will help more Americans become owners this spring homebuying season. Still, some analysts and economists say high prices remain a significant hurdle for w