Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Investments

TuesdayÕ stock market crater hits housing stocks worse than Dow, Nasdaq

Update: Things look worse in early afternoon trading, especially for housing

Today’s market collapse — the latest in a string of them — is once again hitting the stocks that drive the housing and mortgage finance economy worse than the major indices in early trading.

[Update 2:10 p.m. ET]

Things are actually worse in early afternoon trading.

The HW 30HousingWire’s proprietary list of major players in the space — was down 3.2% as of 2:10 p.m. ET.

That compares to the Dow, down 2.51%, and the Nasdaq, down 2.1% at the same time.

In early afternoon trading, the Too Big To Fails were among the hardest hit – Bank of America (BAC) was down 4.01% while JPMorgan Chase & Co. (JPM) was down 3.76%. Wells Fargo (WFC) was down 3.6%.

Meanwhile, Pulte Group (PHM), was down 3.92%.

Fidelity National Financial (FNF) was the sole HW 30 component with its head above water, with a 0.07% rise.

[Original version continues]

Wall Street was expecting volatility today — the New York Stock Exchange once again invoked Rule 48 before trading opened in an effort to speed up and smooth trading at the market open. The 2007 rule means that designated market makers will not have to disseminate price indications before the bell, making it easier and faster to open stocks.

The Too Big To Fails were among the hardest hit in morning trading– Bank of America (BAC) was down 3.44% while JPMorgan Chase & Co. (JPM) was down 3.35%. Wells Fargo (WFC) was down 2.93%.

Nationstar Mortgage (NSM), meanwhile, was the biggest bleeder, down 4.83%.

Here’s a snapshot of where things stood 11:08 a.m. ET.

Click to enlarge

(Source: HW)

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please