Homebuilder stocks take a broad beating as rising long-term interest rates raises affordability concerns

Shares of home builders took a broad beating Thursday, amid growing concerns over housing affordability as interest rates have been surging. The iShares U.S. Home Construction ETF ITB dropped 2.6% in morning toward the lowest close since June 5, with 44 of 46 of its equity components losing ground. Shares of KB Home KBH sank 3.3%, also toward a 3 1/2-month low, even after the homebuilder reported fiscal third-quarter earnings that beat expectations and raised its full-year outlook. Among KB Home’s more active peers, shares of D.R. Horton Inc. DHI shed 3.6%, of Builders FirstSource Inc. BLDR slid 4.6%, of PulteGroup Inc….