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 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