Toll Brothers CEO Douglas Yearley, Jr., told investors on his fourth-quarter earnings call that recent dips in mortgage rates are a good sign. But they’re not proof positive that the volatile market is on solid footing just yet. Reporter Paul Schwedelson unlocked Yearley’s insights in the Philadelphia Business Journal.

Having overestimated the relatively good news of low rates in Aug., Yearley now reflects a wait-and-see stance.

He’s watching for the present 6.49 percent rate — down from a recent 7.25 percent — to boost demand.

Patience, Yearley preached, is the watchword for navigating the ongoing undulations.

Despite the volatility, Toll Brothers reported record results for FY2022, selling more than 10,000 homes.

Yearley also noted that kinks in the national supply chain were beginning to untwist, shortening building timelines and dropping material prices.

All good news.

But not enough for the Toll Brothers CEO to consider that his company’s caution — for now — isn’t justified.

More industry comments of Toll Brothers CEO Douglas Yearley, Jr., are at the Philadelphia Business Journal.