Fortune Brands Innovations Inc.Rising bond yields push mortgage rates up, cooling housing demand and reducing need for building products.
Shares of Builders FirstSource, Fortune Brands, and Gibraltar declined in afternoon trading after President Trump declared the Iran ceasefire over and threatened further strikes, driving oil prices higher and lifting bond yields in an inflation scare that hit housing-related stocks. Builders FirstSource fell 3.9%, Fortune Brands dropped 4.1%, and Gibraltar slid 3.8%. The companies, which supply insulation, roofing, siding, and other building products, face weaker demand signals as rising yields push mortgage rates up and cool the housing outlook, while surging crude oil raises production and freight costs that squeeze margins.
Fortune Brands Innovations Inc.Rising bond yields push mortgage rates up, cooling housing demand and reducing need for building products.
Gibraltar Industries IncRising bond yields push mortgage rates up, cooling housing demand and reducing need for building products.
Builders FirstSource IncRising bond yields push mortgage rates up, cooling housing demand and reducing need for building products.