Investors wary of rising mortgage rates despite strong builder confidence

By Sagarika Jaisinghani (Reuters) – An odd thing happened after data released Tuesday showed that the homebuilder confidence index rose to its highest level in almost eight years – housing stocks barely moved on the news. Wary of rising mortgage rates, investors are choosing to stay on the sidelines rather than celebrate indications of a firming economic recovery. Homebuilder confidence rose in July to its strongest level in 7-1/2-years as tightening supply and solid demand fueled the sector’s recovery, data from the National Association of Home Builders released on Tuesday showed. …
Personal Finance News Headlines – Yahoo! News

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