Consider Some Housing Plays

Homebuilder stocks have pulled back in recent weeks as mortgage rates have climbed and mortgage applications have fallen. Those upward and downward movements have investors concerned about the sustainability of the housing rebound. I would argue, however, that the modest uptick in mortgages compared to historical rates is a positive for housing and housing related stocks. 

According to the Mortgage Bankers Associations, fixed 30-year mortgage rates climbed to average 4.07% in the week ended May 31. Those rates have risen by 48 basis points in the last four to six weeks. The most recent upswing was driven by nervousness that the Federal Reserve could slow its economic stimulus efforts sooner than had been anticipated. ...396 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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