The housing market has been one of the strongest parts of the U.S. economy over the past year and a half after five years of being a drag on economic performance. Given the amount of pent up demand due to the lack of any building activity over the previous couple of years, this housing recovery should continue to be strong over the next few years.
Many companies that serve this space have seen their stocks hit over the last six weeks on worries about rising interest rates impacting mortgage activity. I think these concerns are overdone as I expect interest rates to level off over the next few weeks as the current economic activity does not lend...
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