The homebuiders are showing relative strength after a report released early Wednesday showed a record number of mortgage applications last week. The number of loans was helped by a new Federal Reserve program that pushed rates to 3-year lows. The SPDR Homebuilder Trust (XHB) hit a three-week high of $12.30 early and is holding gains despite broader market weakness. XHB, which holds shares of 21 homebuilding companies, is up 59 cents to $11.64. 15,000 calls have traded on the ETF, roughly 18 times the number of put options. The December 11 calls are the most actives. 10,120 traded, compared to open interest of 2,198.