- Three more downgrades hit the homebuilders, with Toll Brothers (TOL), PulteGroup (PHM), and William Lyons (WLH) being cut from Buy to Hold at Credit Suisse. At the moment, a combination of higher mortgage rates and higher home prices has the Street worried about the sector.
- On Monday a different set of homebuilders suffered three downgrades at the hands of BAML and Citigroup.
- TOL -1.5% premarket
- ETFs: XHB, ITB