HY Homebuilders, Building Materials Weekly Update

Research evidence excerpt

HY Homebuilders, Building Materials Weekly Update

Accessible version

HY Homebuilders, Building Materials

Weekly Update

Industry Overview

Weekly Highlights 06 July 2026 Corrected

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

(FRM) averaged 6.43% as of July 2nd, 2026, -6bps w/w and -24bps y/y. The 15yr FRM United States

averaged 5.79%, -5bps w/w and -1bps y/y. Homebuilders, Building Materials

Patrick Industries (PATK) and LCI Industries (LCII) announced they have entered into a James Kayler, CFA

Research Analyst

definitive agreement to combine in an all-stock merger. BofAS

+1 646 855 9223

Martin Marietta Materials (MLM) announced the acquisition of limestone supplier Lhoist james.f.kayler@bofa.com

North America in a transaction valued at $13.5 billion including debt or 17x 2025 Adj Drew Thompson

EBITDA (15x Adj EBITDA incl synergies). BofAS

+1 646 855 8205

QXO Inc (QXO) announced the closing of previously announced acquisition of TopBuild andrew.thompson2@bofa.com

Corp (BLD) for $17 billion. QXO expects annual synergies of $300 million.

Carlisle Companies (CSL) made more than one unsolicited offer to acquire Owens

Corning (OC) in a deal valued over $10 billion. OC hasn’t engaged substantially with

CSL.

Key Events in the Week Ahead

No company is expected to report quarterly earnings through July 10th. Macroeconomic

indicators to be released this week: MBA Mortgage Applications (07/08) and Existing

Home Sales (07/09)

Last Week’s Market Commentary

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

Friday, returning +0.23% versus +0.28% for the ICE BofA US High Yield Index (HY Index).

As of July 3, the HY Homebuilders sector is trading at a YTW of 6.02% and a STW of