Homebuilders buck turmoil with best gain in 9 months

homebuildersBy John Gittelsohn | Bloomberg

In a week when stock markets were roiled over concern that the global economy is faltering, U.S. homebuilders had the biggest gain in almost nine months.

The 11-member Standard & Poor’s Supercomposite Homebuilding Index rallied 6 percent since Oct. 10, the largest weekly increase since January, as global turmoil fueled a plunge in mortgage rates and housing starts jumped. The broader S&P 500 Index (SPX) fell for a fourth week.

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