XHB News and Press, SPDR Series Trust Homebuilders From 08/24/23

2023-08-24 08:00:00 ET Summary The available supply of existing homes has plummeted, while U.S. mortgage rates have risen and demand has remained relatively high. Existing homeowners, many of which financed their houses at very low mortgage rates in recent years, have become "trap...

2023-08-24 02:45:00 ET Summary As an active investment manager, we are constantly monitoring and re-evaluating our holdings to make sure that they continue to track our investment strategies. The technology sector has been dominating this year, in fact it was the driver behind the...

2023-08-22 15:24:00 ET Summary Today’s home affordability is the lowest on record, thanks to elevated prices and the highest mortgage rates in 23 years. The combination of sky-high prices and historically average interest rates puts the median Canadian home price some 32% a...

2023-08-22 05:30:00 ET Summary Chairman Powell keeps reassuring us that the Fed is "data-dependent," but what do they do if some data is unclear or even flawed? There is a conflict between the ADP jobs data and the Labor Department's "seasonally adjusted" jobs data. In recent mont...

2023-08-19 12:00:12 ET REITs declined in the week ended Aug. 18 as rate hike concerns weighed on sentiments. All voting members of the Federal Open Market Committee voted to raise the policy rate by 25 basis points at the July 25-26 meeting, according to the minutes of the FOMC's Ju...

2023-08-18 23:45:00 ET Summary Activity in residential real estate has stagnated, but prices are holding up better than expected due to low inventories and a lack of forced sellers. Commercial real estate, on the other hand, looks to be in a very different situation with excess in...

2023-08-17 12:23:18 ET Long-term mortgages exceeded 7% this week as the economy continues to do better-than-expected, according to the Freddie Mac Primary Mortgage Survey. 30-year fixed-rate mortgages averaged 7.09% as of Aug. 17, up from last week when they averaged 6.96% and 5.13%...

2023-08-17 01:25:00 ET Summary The latest reads on Housing Starts and Building Permits for the month of June were released on August 16th and showed mixed results relative to expectations. For both starts and permits, single-family was stronger than multi on both an m/m and y/y ba...

2023-08-16 23:29:00 ET Summary Today's Mortgage Bankers Association data shows the average 30Y fixed rate mortgage agreed last week came in at 7.16%, matching the high hit on 21 October last year. The average mortgage taken out for a purchase last week was $417,200, which at 7.16%...

2023-08-16 00:30:00 ET Summary As the national average for a 30-year fixed rate mortgage eclipsed 7.5% recently, homebuilder sentiment has turned lower. The Housing Market Index from the NAHB fell to 50 in August from 56 the previous month. That six point drop month over month...