HY Homebuilders, Building Materials: Weekly Update

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HY Homebuilders, Building Materials: Weekly Update

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HY Homebuilders, Building Materials

Weekly Update

Industry Overview

Weekly Highlights 13 July 2026

Freddie Mac's Primary Mortgage Market Survey (PMMS) shows 30yr fixed rate mortgage High Yield Credit

(FRM) averaged 6.49% as of July 9th, 2026, +1bps w/w and -23bps y/y. The 15yr FRM United States

averaged 5.82%, +3bps w/w and -4bps y/y. Homebuilders, Building Materials

QXO Inc (QXO) sees path to double EBITDA by 2030 following TopBuild Acquisition. James Kayler, CFA

Research Analyst

BofAS

Kitchen Manufacturers Association (KCMA) reports May 2026 total sales of $183.6 +1 646 855 9223

million, -8.4% y/y. james.f.kayler@bofa.com

Drew Thompson

In 2Q26, the NAHB Remodeling Market Index (RMI) posted a reading of 61, down one Research Analyst

point compared to the previous quarter. +1 646 855 8205

andrew.thompson2@bofa.com

Existing home sales for June totaled 4.09M SAAR versus 4.20M consensus.

The Mortgage Bankers Association's (MBA) Mortgage Applications Index fell 2.2% in the

week ended July 3rd, after remaining unchanged in prior week.

Key Events in the Week Ahead

No companies are expected to report quarterly earnings through July 17th.

Macroeconomic indicators to be released this week: MBA Mortgage Applications (07/15),

NAHB Housing Market Index (07/16), Pending Home Sales (07/16) and Housing Starts

and Building Permits (07/17)

Last Week’s Market Commentary

The HY Homebuilders sector outperformed the broader market for the week ending

Friday, returning +0.10% versus +0.02% for the ICE BofA US High Yield Index (HY Index).

As of July 10, the HY Homebuilders sector is trading at a YTW of 6.05% and a STW of

207bps versus the HY Index at a YTW of 7.14% and a STW of 288bps. HY Building