Shares of real estate services companies were knocked lower Wednesday after surprisingly strong inflation data sent Treasury yields climbing. A big jump in longer-term Treasury yields this year has weighed heavily on the housing market, as they reduce affordability by boosting mortgage lending rates. Shares of Redfin Corp.

slumped 4.6%, Zillow Group Inc.


dropped 4.0%, Anywhere Real Estate Inc.

shed 2.9% and RE/MAX Holdings Inc.

lost 2.3%. Meanwhile, the yield on the 10-year Treasury note

rose 7.6 basis points (0.076 percentage points) to 3.034%. Meanwhile, the S&P 500

fell 1.0%.


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