Business

Mass. Movers

Worries about interest rates hit builders

Rising interest rates have some investors concerned.
Istockphoto.com
Rising interest rates have some investors concerned.
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Home builders’ shares were hit hard on Monday as traders worried that higher mortgage rates could upset a recovery in the US housing market. Beacon Roofing Supply Inc., a Peabody-based company that distributes roofing materials in the United States and Canada, was among the companies to see their shares slide. Other builders whose stock declined include Lennar Corp., PulteGroup, and D.R. Horton Inc., whose shares all fell just about 4 percent on Monday.