NEW YORK ( TheStreet) -- We have been seeing improved housing data over the last two months, but the FOMC threw cold water on the housing market Wednesday when Fed Chairman Ben Bernanke hinted that quantitative easing could begin to be unwind in mid-2014. U.S. Treasury yields and hence mortgage rates moved higher.My benchmark for the housing market is the PHLX Housing Sector Index (HGX) (177.41) which is the first close below its 200-day simple moving average since Dec. 20, 2011. On May 20 the housing index set a multi-year high at 210.01 up 22.6% on the year. Currently the index is up just 3.6% year to date, and is 15.5% below the May 20 peak.
Homebuilders Hurt by Fed Policy
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