U.S. Markets closed

Rising Mortgage Rates, Slowing Home Sales Don't Deter Fidelity's Nabar

Donna Fuscaldo

Despite rising mortgage rates, a lack of homeownership on the part of millennials and increasing property values that are shutting some buyers out of the market, Fidelity Investments portfolio manager Neil Nabar is bullish on the outlook for the construction and housing markets. In fact, the fund manager for the Fidelity Select Construction and Housing Portfolio is more bullish than he was this time a year ago, when the housing index saw a big surge. "The first half of 2018 was a little disappointing, with the construction housing index underperforming the S&P 500 and homebuilders down on average about 20%," Nabar said in an interview with Investopedia.