Mortgage-Rate Climb May Signal Homebuying Collapse

| About: SPDR Homebuilders (XHB)
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In 2013, home sales spiked along with mortgage rates as homebuyers rushed to lock in rates before they headed even higher. One month later, they plunged 19%.

With 30-year fixed mortgage rates up nearly three-quarters of a percentage point in the past six weeks, analysts at Bloomberg say we may be setting up for another big drop: