EXPI - Zillow Redfin Compass stocks slide after another huge inflation print spooks markets

Zillow ( NASDAQ: ZG ) -4.2% , Redfin ( NASDAQ: RDFN ) -3.3% , Compass ( NYSE: COMP ) - 4.9% alongside shares of other real estate brokerages are sliding in Wednesday morning trading after June's red-hot inflation reading put markets in a risk-off environment.

The inflation data also sent Treasury yields higher as bond traders price in a more hawkish Fed as a result. The 10-year UST bond yield is rising nearly two basis points to 2.972% as of shortly before 11:00 a.m. ET, while the 2-year is jumping nine bps to 3.132%.

Real estate-related stocks have been knocked lower over the past year, as a rapid climb in mortgage rates hinders home affordability. June's hotter than expected consumer price inflation will force the Federal Reserve to be more aggressive with its rate hike policy, hence the current yield curve inversion.

Some other real estate brokerages in the red intraday include: Anywhere Real Estate ( NYSE: HOUS ) -2.8% , Re/Max ( RMAX ) -1.4% , eXp World ( EXPI ) -2.7% , Opendoor Technologies ( OPEN ) -3% and Offerpad Solutions ( OPAD ) -3.1% .

Mortgage REITs are also edging down: Ag Mortgage Investment ( MITT ) -1.6% , Chimera Investment ( CIM ) -1.2% , Annaly Capital ( NLY ) -0.7% , Two Harbors Investment ( TWO ) -0.8% and Orchid Island Capital ( ORC ) -0.5% .

Home builders: D.R. Horton ( DHI ) -1.8% , HK Home ( KBH ) -2.7% , Lennar ( LEN ) -3% , Beazer Homes USA ( BZH ) -2.1% , Meritage Homes ( MTH ) -2.5% and NVR ( NVR ) -2.1% .

Earlier, traders price in bigger rate increases as inflation pressures Federal Reserve .

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