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Miami-based $LEN said its backlog rose 14% to 6,646 homes in the quarter. Gross margin on home sales rose to 24.6% from 25.6% in 4Q14 and sequentially, it rose by 50 basis points from 3Q15. CEO Stuart Miller said that improving employment levels, wage growth and consumer confidence will contribute to the sector's steady recovery.
What will be an ideal EPS range for $PZZA in its earnings today?
The U.S. Treasury will be receiving $10 billion as dividends from the combined government-backed mortgage giants Fannie Mae and Freddie Mac. This is a sign that a recovered housing market is allowing the once-ailing firms to subsidize federal government spending.