Real Estate
Housing stays pinned under higher rates
Mortgage rates and bond yields keep pressure on the rate-sensitive corner of the market.
The real estate trade remains under pressure as Treasury yields climb. The 10-year Treasury rises to 5.311%, and the 30-year rises to 5.665%, leaving the asset class with little relief.
In the sector tape, Real Estate is the only group in the red, down 0.3%. That lag fits the broader rate backdrop rather than any single catalyst in the data.
CNBC Real Estate highlights a market already dealing with high mortgage rates, frozen conditions, and demand that has been hit hard by the jump in borrowing costs.
The section also points to a busy week for macro data, including Wednesday’s inflation reading and Friday’s jobs report, both of which can move rates quickly.