(Reuters) - Sentiment among U.S. home builders slid in June to the
lowest level in more than 16 years as tighter lender practices
and rising mortgage rates crimped sales, the National
Association of Home Builders said on Monday. Economists had
predicted the index would be unchanged from May's 30 reading,
based on a Reuters survey. Readings below 50 mean more builders
view market conditions as poor rather than favorable.
The benchmark U.S. Treasury 10-year note rose
3/32 in price for a yield of 5.15 percent, compared with 5.17
percent late on Friday. Last week, 10-year yields reached a
five-year high of 5.33 percent. Bond prices and yields move
inversely.
Read more at Reuters.com Bonds News
lowest level in more than 16 years as tighter lender practices
and rising mortgage rates crimped sales, the National
Association of Home Builders said on Monday. Economists had
predicted the index would be unchanged from May's 30 reading,
based on a Reuters survey. Readings below 50 mean more builders
view market conditions as poor rather than favorable.
The benchmark U.S. Treasury 10-year note
3/32 in price for a yield of 5.15 percent, compared with 5.17
percent late on Friday. Last week, 10-year yields reached a
five-year high of 5.33 percent. Bond prices and yields move
inversely.
Read more at Reuters.com Bonds News
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