Here are three charts to consider:
1. Mortgage rates this month -
2. Lumber futures prices this month -
|September lumber futures (source: Barchart)|
3. For those who think the above two charts are a coincidence, here is a signal from the equity markets comparing homebuilder shares with the S&P500 over the past 3 months.
|Homebuilders index vs. the S&P500 total return (Source: Ycharts)|
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