Bank of America Corp (BAC): American builders broke new ground on mo...

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Tuesday, 06/19/2012 10:48:14 AM

Tuesday, June 19, 2012 10:48:14 AM

American builders broke new ground on more single family homes in May and requested more permits to build homes and apartments than they have in the past three and a half years. The increase suggest the housing market is slowly recovering.

Traders are also hopeful because of recent signals from the Federal Reserve that the central bank may come up with plans to stimulate the economy at its two day meeting which starts Tuesday.

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