Consumer companies ticked down as traders assessed the outlook for spending and the housing market.

The average 30-year Federal Home Administration mortgage dipped below 7% in recent weeks, unleashing pent-up demand for loans among first-time home buyers for whom the FHA loans are intended, according to a survey from the Mortgage Bankers Association.

In another good sign for the home market, pool installer Latham Group rose after its sales and profit topped Wall Street estimates in the first quarter.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

05-08-24 1724ET