Rising Rates, Low Affordability Continue to Deconstruct Homebuilder ETFs
This article was originally published on ETFTrends.com.
A deadly combination of rising rates and low affordability continues to pound the housing industry, including homebuilders and homebuilder-focused exchange-traded funds (ETFs) alike, such as the Direxion Daily Homebuilders & Supplies Bull 3X ETF (NYSEArca: NAIL). Luxury builder Toll Brothers Inc reiterated the slump in housing, saying that it saw the market “soften further” during [...]