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The S&P 500 was down 0.4% in midday trading to 2,094.93.
The Dow Jones Industrial Average was down 0.2% to 17,848.10.
The Nasdaq was up 0.2% to 5,164.10.
The yield on a 10-year Treasury bond was up 1.7% to 2.19%.
The price of gold was down 1% to $1,053.
Aliso Viejo-based New Home Co. Inc. was down 11.3% to $13.06 and a $216 million market cap. The builder said it would offer up to 4 million shares of common stock and use the money for land acquisition and development and debt repayment. It current has 16.5 million shares outstanding.
Other Orange County builders also were down in midday trading as an interest rate increase this month by the U.S. Federal Reserve Board of Governors appeared likely.
Irvine-based CalAtlantic Group Inc. was down 1.4% to $42.29 and a $5.2 billion market cap. Irvine-based Tri Pointe Group declined 3% to $13.78 and a $2.3 billion market cap. Newport Beach-based William Lyon Homes fell 6.6% to $16.37 and a $549 million market cap.
Irvine-based Boot Barn Holdings Inc. rose 7.7% to $11.23 for a $282 million market cap on moderate share volume.
Anaheim-based Pacific Sunwear of California was up 7.1% to 37 cents and a $25 million market cap. The retailer is scheduled to report earnings today after markets close.