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New Residential Construction Industries Jump on Mortgages

by Steve Patterson on Thursday, October 8, 2009 1:17 PM

New Residential Construction Industries Jump on Mortgages

A number of industries related to residential home construction including New Residential Construction itself, moved higher today as mortgage rates continue to fall. Residential Construction moved higher 5.7% as an industry with Cement jumping 4.34% higher and Lumber/Wood Production also higher 3.66%.

By Steve Patterson

Residential Building

A number of names in New Residential Construction moved higher today including Brookfield Homes (BHS), Standard Pacific (SPF), Hovanian (HOV), Lennar (LEN), and Ryland (RYL). Brookfield Homes has bounced around recently with the economy, moving down to $3.30 a share in July and rebounding to $8.33 a share in September. Recently the stock has traded near $6.00. Sales have continued to fall for Brookfield, down 25% this quarter compared to a year ago along with quarterly losses improving. Many of the companies in the industry are seeing losses improve dramatically compared to a year ago even as sales continue to decline. The home builders are hoping for an additional First Time Home Buyer Credit to be passed by Congress but have not moved dramatically from their recent lows.

Related Industries

Cement names CRH (CRH), James Hardie (JHX), and Cemex (CX) all moved higher today in sync with Residential Construction. Lumber names that jumped upwards of 9.25% include Koppers Holding (KOP), Louisiana Pacific (LPX), and Weyerhauser Co (WY). Weyerhauser declared their dividend today of 5 cents.

 

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14 comment(s) so far...

Anonymous 10/9/2009

I agree with you.Because of this Many of the companies in the industry are seeing losses compared to years ago

 
Anonymous 10/9/2009

Your post content is really excellent. I will keep visiting this blog very often.<br><br>Regards,

 
Anonymous 10/10/2009

I am impressed with the content of the article. I have been trying this method and I have seen some real improvements. This method is very useful.

 
Anonymous 10/11/2009

Great article, thanks for posting this up. I've been following Brookfield Homes and I'm glad it's doing well.

 
Anonymous 10/12/2009

Thanks for the article.Your article was pretty informative and i hope that in future also i get these kind of article.<br><br>Thanks,<br>Portable Storage,<br>www.moveablecubicle.com

 
Anonymous 10/12/2009

I am impressed that you posted this kind of article. The details are very realistic. I agree that many business are now decreasing their profits. Sad to stay :(

 
Anonymous 10/14/2009

Nice article on real estate company mortgage. Your posts are always informative.<br><br>Thanks,<br>Steve

 
Anonymous 10/15/2009

With this current economy I don't that much improvement in real estate business and obviously residential construction industries will also be affected.

 
Anonymous 11/26/2009

nice ayticle but it is there that the real estate industry will also bounce back may take time<br><br>thanks

 
Anonymous 12/24/2009

Very good article and blog,thanks for the info.

 
Anonymous 7/31/2010

Interesting, i wouldn't have thought about morgages in this way to be honest. You learn something new every day!

 
Anonymous 12/24/2011

Such jump was expectable movement in market as now we are facing the scars of crisis and it is also the effect of it.I hope it will favour the market in present situation.<br />

 
Anonymous 1/16/2012

It is really a bad news that residential construction business is at low .I hope it will be resumed to good position soon.You have updated on the matter very nicely.<br />

 
Anonymous 3/21/2012

Amazing information on mortgage. I thanks for sharing it. I often look for such information on the internet.<br />

   
  
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