Homebuilders fall to 10-month low on sales data, earnings miss

Homebuilders are sinking today. Blame that on disappointing economic data and earnings reports that trailed estimates. The S&P Homebuilding Select Industry Index fell 2.8% as of 11:07 a.m. in New York, poised for its biggest drop since early April and its lowest closing level since September.

Mortgage originations plunge, but subprime activity sees minimal decline Lenders tap their market know-how to save money on facilities How Payday Loans Work. Payday loans get their name because they usually come due on the borrower’s next payday. They’re different from regular bank loans in several ways: Smaller Amounts. In most states where payday loans are legal, there’s a limit on how much you can borrow this way.Burnout is a slowdown of mortgage prepayment activity on mortgages that are packaged into a mortgage-backed security (MBS). Mortgagors often prepay the mortgage debt, through refinancing, when interest rates go down. Such prepayment activity is bad for MBS investors, because it reduces future income potential.

KB Home KBH, one of the nation’s largest homebuilders, reported disappointing fourth-quarter and fiscal 2015 (ending Nov 31) results on Jan 7 before the market opened.Shares of this Los Angeles-based homebuilder declined 12% since the results were announced. KB Home missed the Zacks Consensus Estimate for both sales and earnings in the fourth quarter.

Sales of previously owned homes increased in February 2018, despite low inventory and higher prices. The data came in as a breather after the last two month disappointed in terms of existing home.

Market Close 8.21 - Bloomberg Homebuilders Fall to 10-Month Low on Sales Data, Earnings Miss. The maker of home appliances whirlpool corp. plunged 15 percent on Tuesday after reporting disappointing second-quarter results and annual guidance. The stock was down as much as 4.7 percent on Wednesday, widening its plunge since mid-July to 21 percent.

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 · Homebuilder stocks are slipping after sales of previously owned U.S. homes fell more than forecast in March and KBW cut its rating on D.R. Horton shares.

 · KB Home KBH, one of the nation’s largest homebuilders, reported disappointing fourth-quarter and fiscal 2015 (ending Nov 31) results on Jan 7 before the market opened.Shares of this Los Angeles-based homebuilder declined 12% since the results were announced. KB Home missed the Zacks Consensus Estimate for both sales and earnings in the fourth quarter.

Don't miss the big stories.. Demand and sales might be climbing, but the market is “not going crazy. according to Greater Las Vegas Association of Realtors data.. highs is builders' sales prices, as their monthly median eclipsed the. as she bought 10 houses, and dropped her back off at the airport.

The pullback started picking up steam after 10 a.m. Eastern, following the release of new-home sales data for May that fell below expectations. Read more about new-home sales. Don’t miss: It’s probably time to kiss that housing market rebound good-bye.

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Existing-home sales fell 3.2% to an annual rate of 5.38 million last month, the National Association of Realtors said Wednesday. Economists had expected home resales at an annualized pace of 5.65.