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Higher Mortgage Rates is Beneficial for $ITB
- If you are a homeowner and you are considering selling your house to downsize and you refinanced during the pandemic at 2.75% but now the rate is 4.5%, then you will likely stay put. This will slow the amount of existing home sales.
- Existing home sales is going to go down and that puts more pressure on new home sales.
- $ITB should benefit from this trend (I own $LEN - see graph below) but as of now, the market thinks that the other forces in play will hurt sales and profits more than it will benefit them.
- Interactive Link to Graph - https://app.koyfin.com/share/76101b0cf0
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