LGI Homes CEO sees demand staying strong as mortgage rates tick up

LGI Homes Chairman and CEO Eric Lipar told CNBC on Friday he believes housing demand will remain robust even in the face of rising mortgage rates.

A day earlier, Freddie Mac reported the 30-year fixed-rate mortgage reached its highest level since July after eclipsing 3%. And on Wednesday, the Mortgage Bankers Association’s seasonally adjusted index showed total mortgage application volume was essentially flat last week.

The housing market has been one of the bright spots of the U.S. economy during the coronavirus pandemic, sparked in part by increased geographic flexibility and record-low borrowing costs. But a recent move higher in U.S. Treasury yields has led some to ponder the…