Mortgage Applications Down
Mortgage demands have slowed down this week compared to last. The Mortgage Bankers Association seasonally adjusted index shows that total application volume was 2.7% lower than the previous week. Volume was still 3.3% higher than the same period last year.
People looking for mortgages saw a drop in interest rates in December and took advantage the rates at the start of this year. Last week, however, rates rose slightly. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) increased to 4.75% from 4.74%, with points decreasing to 0.44 from 0.45 (including the origination fee) for loans with a 20% down payment.
Notable companies
The most notable companies in this group are PROLOGIS (NYSE:PLD), American Tower Corp (NYSE:AMT), Simon Property Group (NYSE:SPG).
Industry description
The investment seeks long-term growth through a combination of capital appreciation and current income.
The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in the equity securities of real estate companies. It is likely to maintain a significant portion of assets in real estate investment trusts (REITs). REITs pool money to invest in properties (equity REITs) or mortgages (mortgage REITs). The fund generally invests in equity REITs. It is non-diversified.
Market Cap
The average market capitalization across the T. Rowe Price Real Estate MF is 50.31B. The market cap for tickers in the group ranges from 11.19B to 120.46B. PLD holds the highest valuation in this group at 120.46B. The lowest valued company is REG at 11.19B.
Volume
The average weekly volume growth across all stocks in the T. Rowe Price Real Estate MF was -25%. For the same stocks of the MF, the average monthly volume growth was -10% and the average quarterly volume growth was -19%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 85
P/E Growth Rating: 57
Price Growth Rating: 56
SMR Rating: 63
Profit Risk Rating: 69
Seasonality Score: -40 (-100 ... +100)
