Investors are accepting the lowest yields since the real estate boom peaked in 2005 on the debt of U.S. homebuilders relative to the rest of the junk-bond market as evidence mounts that housing is on the rebound.
Homebuilder yields have fallen 1.1 percentage points below the average for U.S. speculative-grade notes, the biggest gap since September 2005, after the housing bust pushed them above the average………………………………………..Full Article: Source