Homebuilders Pop on Renewed Confidence, Delay in Reg. Requirement
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Homebuilder stocks were in fashion this afternoon, with many names in the space posting strong gains. Gainers include Hovnanian Enterprises Inc. (NYSE: HOV), Beazer Homes USA Inc. (NYSE: BZH), Toll Brothers (NYSE: TOL) and Pulte Group (NYSE: PHM).
The move is being tied to several developments, included comments at a UBS conference and news that CFPB would extend the effective date for new mortgage disclosures.
Presenters at the UBS conference said they were confident housing would rebound with only a moderate improvement in the macro environment - good news considering fiscal cliff worries.
Separately, the Consumer Financial Protection Bureau said additional mortgage disclosure requirements will be delayed until after the Bureau's previously proposed mortgage disclosure rules are finalized.
The move is being tied to several developments, included comments at a UBS conference and news that CFPB would extend the effective date for new mortgage disclosures.
Presenters at the UBS conference said they were confident housing would rebound with only a moderate improvement in the macro environment - good news considering fiscal cliff worries.
Separately, the Consumer Financial Protection Bureau said additional mortgage disclosure requirements will be delayed until after the Bureau's previously proposed mortgage disclosure rules are finalized.
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