Nov 5 (Reuters) - Building products supplier Builders

FirstSource Inc ( BLDR ) cut its full-year sales forecast on

Tuesday, as it anticipates lower multi-family property

construction due to volatile mortgage rates weighing on the

housing market.

Mortgage rates were hovering around 6.72% for the benchmark

30-year loan as of October-end after a volatile year that left

many prospective home buyers on the sidelines.

Builders FirstSource ( BLDR ) provides building materials,

manufactured components and construction services to

homebuilders, subcontractors, remodelers and individual

consumers across the U.S.

Irving, Texas-based Builders FirstSource ( BLDR ) now expects 2024

net sales to be between $16.25 billion and $16.55 billion,

compared with its prior forecast of $16.4 billion and $17.2

billion. The company also expects construction of multi-family

properties to fall 25% to 30% this year.

The company reported quarterly net sales of $4.23 billion,

missing analysts' average expectation of $4.45 billion according

to data complied by LSEG.

It reported an adjusted profit of $3.07 per share in the

quarter ended September 30, higher than expectations of $2.98.