U.S. stock futures bounced Wednesday after the S&P 500 closed in correction territory.
quarterly earnings and revenue expectations and raised its full-year forecast for each, as Americans buy, fix up and renovate their homes in a tight real estate market. The company's shares rose 3% in premarket trading, as the home improvement retailer said momentum carried into February.
Climbing mortgage rates are hitting both potential homebuyers and refinance candidates. Total mortgage applications decreased 13.1% last week to their , according to the Mortgage Bankers Association. Refis dropped 15% last week. Home prices have been climbing steadily during Covid and didn't let up last year.
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