rate hikes, which would increase borrowing costs and slow consumer spending, said John Person, president of nationalfutures.com. The yield on the 10-year Treasury note was at its highest level since early August. Federal Reserve Governor Susan Bies warned about risky real-estate lending practices, saying banks could be hurt by higher rates or a decline in home prices. She spoke at a bankers convention in Beverly Hills, California. Shares of MGIC Investment Corp., a large private mortgage insurer, fell 1.9 percent, or $1.12, to $58.55. The Dow Jones index for homebuilders fell 1.5 percent to close at 844.89, after earlier sliding nearly 2 percent to a five-month low. The index has skidded nearly 25 percent from an all-time peak set on July 20. U.S. crude oil prices also were a drag on the stock market, with the November crude futures contract rising 59 cents to settle at $64.12 a barrel.
