Homebuilder Stock Woes Deepen as Rates Hurt Affordability
- Raymond James analyst cuts ratings on Lennar, Toll Brothers
- The group could be volatile through earnings season: Barclays
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In a week where homebuilding stocks were faced with surging US Treasury yields and data showing weakening demand for homes, one analyst is throwing in the towel on the sector.
Raymond James analyst Buck Horne downgraded his ratings on all the builders in his coverage, including Lennar Corp. and Toll Brothers Inc., citing surging mortgage rates.