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Confidence in the Housing Market rises to highest in 7 years in June

Summary:

  • The housing market seems more favorable than poor.
  • The housing index is 23 points higher than where it was in June of last year.
  • With sales up the stock market responded immediately by gaining; Homebuilders Toll Brothers (TOL.N) and Pulte Group (PHM.N) gained more than 3 percent, while Lennar (LEN.N) rose over 1 percent. 
  • Cheap mortgage rates have helped lure in buyers, with borrowing rates kept low by the Federal Reserve’s
  • On the bad side while the housing recovery has been gaining traction, manufacturing activity in contrast has softened.
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June 17, 2013

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