Sector Update: Homebuilders Lose Ground on Higher Treasury Yields

By Staff,

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Stocks in the homebuilding sector are all lower, reflecting a 14 basis point increase in the yield on the 10-year note after Treasuries turned south on better than expected non-farm payrolls. The yield on the 10-year note -- indexed to mortgage rates -- popped up to 2.77% today, a three week high.

Shares of LEN last traded down 4.5% at $32.67.

Ryland Homes ( RYL ) is one of the biggest losers in the sector, down more than 5% to $36.50.

KB Home ( KBH ) is off nearly 4% to $15.91, and Comstock Holding ( CHCI ) is off 5% to $2.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CHCI , KBH , RYL

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