The Mortgage Bankers’ Association latest data showed that mortgage applications fell 8.8%, falling for the third week in a row.
There are also concerns that higher rates will hurt the housing comeback.
These items along with a broader sell-off in markets seems to be driving down homebuilder stocks.
- Toll Brothers is down 3.4%
- DR Horton is down 3.2%
- Beazer Homes is down nearly 5%
- PulteGroup is down 2.9%
- Lennar Corp is down 2.72%
- Standard Pacific Corp is down 4.2%