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0.00158877267311008 0.000794386336555041 0.000728187475175517 0.0045677214351913 0.00721567589037471 0.000728187475175517 -0.00122467893552232 -0.000397193168277521
Stock impact report

Home Builder Stocks Slip. Higher Mortgage Rates Are on the Horizon. [MarketWatch]

D.R. Horton, Inc. (DHI) 
Last d.r. horton, inc. earnings: 4/28 06:30 am Check Earnings Report
US:NYSE Investor Relations: investor.drhorton.com
Company Research Source: MarketWatch
and Dow Jones Industrial Average lower—but builders fell more dramatically than the broader market. Two exchange-traded funds tracking the industry, the SPDR S&P Homebuilders and iShares U.S. Home Construction were down 3.3% and 3.8%, respectively. Shares of the four largest builders by market capitalization, D.R. Horton Lennar NVR and PulteGroup are 2.8% to 4.3% lower. The S&P and DJIA are each down about 1%. Higher rates were already eating into mortgage demand. Applications for home purchase loans sagged to their lowest level since late February last week, Mortgage Bankers Association deputy chief economist Joel Kan said in a Wednesday statement. “Mortgage rates moved higher last week as several Federal Reserve officials reiterated a patient posture on rate cuts,” he said. “Inflation remains stubbornly above the Fed's target, and the broader economy continues to show resiliency.” One of the most stubborn aspects of inflation is housing costs. The index tracking shelter cost Show less Read more
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