The builder “missed on revenue but delivered slightly better than expected earnings per share, with solid growth across all reporting segments in orders, backlog and deliveries,” Williams said.
Ryland shares rallied 9% while Pulte added 7% at last check after the companies announced their quarterly results.
Meanwhile, mortgage rates remain attractive. “Mortgage rates remained near record lows in the week ending April 26, with the 30-year fixed-rate mortgage average declining to 3.88% from 3.90% in the prior week, Freddie Mac said Thursday in its weekly report,” MarketWatch said.
SPDR S&P Homebuilders ETF
