Bears Keep Punishing Homebuilders
June 05, 2013 at 12:08 PM EDT
It’s another bad day for homebuilders as rising interest rates led to a drop in mortgage applications. Granted, shares of Hovnanina Enterprises (HOV) are up on better than expected earnings, rising 3.5% to $6.18. But stock prices for other homebuilders are falling, continuing a downward slide that began in mid-May when hopes for a housing market [...]