Previous Close | 67.45 |
Open | 66.50 |
Bid | 66.26 x 900 |
Ask | 66.27 x 1300 |
Day's Range | 65.96 - 66.47 |
52 Week Range | 51.23 - 86.61 |
Volume | |
Avg. Volume | 3,173,890 |
Net Assets | 1.13B |
NAV | 66.72 |
PE Ratio (TTM) | N/A |
Yield | 0.91% |
YTD Daily Total Return | -23.26% |
Beta (5Y Monthly) | 1.49 |
Expense Ratio (net) | 0.35% |
Inception Date | 2006-01-31 |
Cracks in the nation's housing market continue to grow. Yesterday, the government reported that U.S. homebuilding sank to its lowest level in over a year, with housing starts plunging 9.6% as higher construction costs continue to weigh on builders.
Nobel Prize-winning economist Robert Shiller predicts the housing slowdown is a sign that a recession may be on the way.
Interest rates are in the middle of their biggest increase in many years. This is going to have a massive impact on the housing market and related equities such as the SPDR Homebuilders ETF (NYSEARCA:XHB). It starts with headline mortgage rates. The average interest rate on a 30-year fixed mortgage has risen from 3.2% early last year to more than 5% now. This has a massive effect on affordability. It’d be easy to take that data and conclude another 2008-style housing bust is on the way. But that