[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Ripster [@ripster47](/creator/twitter/ripster47) on x 412.1K followers Created: 2023-09-05 18:32:28 UTC $TOLL 💡 Toll Brothers and other homebuilder stocks exhibiting notable weakness as yields rise and as investors take profits Despite high inflation and rising mortgage rates, homebuilder stocks have been remarkably strong so far in 2023. For instance, prior to today, Toll Brothers (TOL) had surged by nearly 70%, while Lennar (LEN), D.R. Horton (DHI), and PulteGroup (PHM) had soared by 33%, 34%, and 8%, respectively. TOL CEO Douglas Yearley commented during the Q2 earnings call on August XX that home buyers have become more accustomed to higher mortgage rates, after experiencing some shock last year when rates shot sharply higher. This greater comfort level, combined with an ongoing lack of housing supply, has more than offset the macroeconomic headwinds for TOL and its peers. Consequently, TOL and others have posted much better-than-expected results in 2023. Today, though, investors are locking in some profits as the 10-year Treasury Bond -- which fixed mortgage rates tend to track -- climbs higher and puts further strain on would-be home buyers. However, if mortgage rates continue to rise, it stands to reason that a portion of potential home buyers will be priced out of the market and will delay purchasing a home until affordability improves. XXXXXX engagements  **Related Topics** [rates](/topic/rates) [mortgage rate](/topic/mortgage-rate) [housing market](/topic/housing-market) [inflation](/topic/inflation) [stocks](/topic/stocks) [$toll](/topic/$toll) [$tol](/topic/$tol) [Post Link](https://x.com/ripster47/status/1699128380367724659)
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Ripster @ripster47 on x 412.1K followers
Created: 2023-09-05 18:32:28 UTC
$TOLL 💡 Toll Brothers and other homebuilder stocks exhibiting notable weakness as yields rise and as investors take profits Despite high inflation and rising mortgage rates, homebuilder stocks have been remarkably strong so far in 2023. For instance, prior to today, Toll Brothers (TOL) had surged by nearly 70%, while Lennar (LEN), D.R. Horton (DHI), and PulteGroup (PHM) had soared by 33%, 34%, and 8%, respectively.
TOL CEO Douglas Yearley commented during the Q2 earnings call on August XX that home buyers have become more accustomed to higher mortgage rates, after experiencing some shock last year when rates shot sharply higher. This greater comfort level, combined with an ongoing lack of housing supply, has more than offset the macroeconomic headwinds for TOL and its peers. Consequently, TOL and others have posted much better-than-expected results in 2023.
Today, though, investors are locking in some profits as the 10-year Treasury Bond -- which fixed mortgage rates tend to track -- climbs higher and puts further strain on would-be home buyers.
However, if mortgage rates continue to rise, it stands to reason that a portion of potential home buyers will be priced out of the market and will delay purchasing a home until affordability improves.
XXXXXX engagements
Related Topics rates mortgage rate housing market inflation stocks $toll $tol