Salient to Investors:

Bill Miller at Legg Mason said because housing has done so well, the next move there is in financials. Miller said an improved housing market means banks’ mortgage origination businesses will improve.

Miller’s fund had 40 percent of assets in financial stocks as of Sept. 30, and owns insurers and mortgage REITs.

CoreLogic said US home prices rose 5 percent in September from a year earlier, the biggest 12-month increase since July 2006.

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