real-time news and commentary for investors
Tuesday, Jun 25
Home builder stocks are enjoying a good day today on the back of better results from Lennar...
Home builder stocks are enjoying a good day today on the back of better results from Lennar (LEN), along with above consensus results from Case-Shiller's Home Price Index in April and strong May New Home Sales. Despite the positives, Wells Fargo's Adam Rudiger thinks it's too soon to dismiss the potential impact of rising mortgage rates. The 30-year fixed rate mortgage averaged 3.62% during LEN's Q2, Rudiger notes, well below the 4.51% average rate as of yesterday.