Home builders Higher On Word of Treasury Intervention

The embattled homebuilder group is higher this AM following reports from the Wall Street Journal, the White House and major financial institutions are close to a deal that would temporarily freeze interest rates hikes on certain adjustable rate subprime mortgages.

Also helping the sector is the feeling that Ben Bernanke's speech last night suggested more rates cuts are on the table.

Stocks: Pulte Homes Inc. (NYSE: PHM), Centex (NYSE: CTX), D.R. Horton (NYSE: DHI), KB Home (NYSE: KBH), Lennar (NYSE: LEN), Ryland (NYSE: RYL), Standard Pacific (NYSE: SPF), Meritage Homes Corporation (NYSE: MTH), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), Beazer (NYSE: BZH).

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