Does today's drop in housing stocks present a buying opportunity or is it time to get out?
Earlier today, Talking Numbers interviewed Toll Brothers CFO Marty Connor on what effect higher mortgage rates would have on his company.
While home sales in May were better than expected – more than 5 million, its highest in three years – housing stocks fell today as the market began to worry that higher interest rates will hurt home prices.
On today’s Talking Numbers segment on CNBC’s Closing Bell, JC O’Hara, Chief Market Technician at FBN Securities, and CNBC contributor Steve Cortes, Founder of Veracruz TJM, also take a look at the XHB, the ETF that tracks the SPDR S&P Homebuilders Index.
To hear O’Hara and Cortes on homebuilders, watch the video above.