US housing index gains on tepid inflation data

Century Communities

15/05/2024 17:05

** U.S. homebuilders rise after better-than-expected U.S.
inflation data
    ** PHLX Housing Index's  .HGX  up 2.6%, its highest since
April 4 
    ** Better-than-expected consumer inflation data builds
stronger case for September Federal Reserve interest rate cuts
    ** Easing interest rates would also pull down mortgage
rates, benefiting homebuilders
    ** Toll Brothers  TOL.N , Meritage Homes  MTH.N , D. R.
Horton  DHI.N , Century Communities  CCS.N  and KB Home  KBH.N 
top performers of index, up more than 4% each
    ** Including session gains, HGX up 10.2% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((nikhil.sharma@thomsonreuters.com))