NEW YORK, Sept 8 Shares of U.S. home builders
jumped on Monday after the government took over mortgage
finance giants Fannie Mae FNM.N and Freddie Mac FRE.N in a
bid to stabilize the housing market and prevent further turmoil
in global financial markets.
Toll Brothers' (TOL.N) stock was up 8 percent at $26.19 a
share in pre-market trading on NYSE, while Hovnanian
Enterprises Inc. (HOV.N) shares were up 14 percent at $7.51.
Shares of Lennar Corp. (LEN.N) were 11 percent higher at
$15.09, while those of Pulte Homes (PHM.N) were up nearly 10
percent at $16.00.
(Reporting by Richard Leong; Editing by James Dalgleish)