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Mortgage Rates Aid Housing Recovery

Tuesday, June 2nd, 2020

According to a recent Wall Street Journal article, home builder share prices have been stock market standouts this month and are signaling that investors are betting on a swift housing recovery as stay-at-home orders are lifted. The iShares U.S. Home Construction ETF (ticker ITB), composed of major builders, home-improvement retailers and other related stocks, surged 18% in May, compared with the S&P 500’s 4.5% monthly gain. The outperformance of stocks in the residential real-estate industry marks a sharp turnaround from the steep selloff that many of the companies faced when the market plummeted this year. Investors have had reason to […]