Home Builders Move Lower, Mortgage Applications Down
May 29, 2013 at 11:18 AM EDT
A day after home price statistics helped send the markets higher, home builders are trading lower as questions bubble up about housing market health. U.S., mortgage applications dropped for a third consecutive week, down 9% in the latest period, according to Mortgage Bankers Association data released Wednesday. Blame a drop in refinancings, and this reality: the interest rate [...]