- The housing market seems more favorable than poor.
- The housing index is 23 points higher than where it was in June of last year.
- With sales up the stock market responded immediately by gaining; Homebuilders Toll Brothers (TOL.N) and Pulte Group (PHM.N) gained more than 3 percent, while Lennar (LEN.N) rose over 1 percent.
- Cheap mortgage rates have helped lure in buyers, with borrowing rates kept low by the Federal Reserve’s
- On the bad side while the housing recovery has been gaining traction, manufacturing activity in contrast has softened.
Categories: Equity Capital Markets