|Day Low/High||51.03 / 51.96|
|52 Wk Low/High||39.92 / 63.91|
Stocks without leverage to the world's economies will be left behind.
You should revisit homebuilders, consumer staples and other sectors that have pulled back.
Employment is a good leading indicator, and the data don't look good.
Interest rates are hurting organic home buyers and institutional buyers are slowing purchases, stalling the housing recovery says Doug Kass.
The recent tick up in mortgage rates is not enough to derail the housing recovery, says Bob Walters, Chief Economist at Quicken Loans.
But the homebuilder stock doesn't seem to offer many advantages to its peers.
A deeper look. June pending home sales (which typically foreshadow new-home sales) fell by -0.4% and that compares to the May rise of +6.7%. During June, according to Bankrate.com, the average conventional 30-year mortgage rose from about 3.65% to 4...
The headline numbers may look poor, but a deeper read reveals a different story.
This homebuilder appears oversold, but Portfolio Manager David Peltier likes its exposure to California.
Those starved for homebuilders should sink their teeth into these names.