Fortune Brands Expects Repair, Remodel Work Activity to Pick Up -- Market Talk

Dow Jones11-08

1427 ET - Fortune Brands Innovations expects repair and remodel demand to bubble over eventually. Fortune believes there's high levels of pent-up demand as R&R work has been down over the last two years amid elevated interest rates. The company expects people to tap into projects as rates are expected to decline further. "As interest rates decline and as mortgage lock-in effects subsides, we believe people will increasingly tap into their home equity for renovation projects through a variety of vehicles," says CEO Nicholas Fink on a 3Q earnings call. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

November 07, 2024 14:27 ET (19:27 GMT)

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