Hovnanian (HOV) Up On Fed And CEO's Comments

Hovnanian's (NYSE: HOV) chief executive, Ara Hovnanian, said on CNBC today, that he can't say the housing market has hit bottom yet and is ready for a recovery. He did say builders continue to use incentives to attract buyers, and in the past few weeks sales have been better than expected. Hovnanian hopes for more interest-rate cuts from the Federal Reserve next week. [JT]

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