Home construction slows to 10-year low
Single-family starts drop about 25.4% year-over-year in July More »
New site eyes California foreclosures
ForeclosureRadar.com provides interactive maps, other tools More »
Home sales continue downward spiral in Lee County
Sales of existing single-family homes in Lee County dropped 39 percent in the second quarter, while sales of existing condominiums slipped 12 percent, according to a report released Wednesday by the Florida Association of Realtors. More »
US housing worries add to markets gloom (FT.com)
FT.com - Investors in the US followed counterparts in Asia and Europe and sold equities as worries about the the fallout from collapse of the subprime mortgage market mounted. More »
Sharp sell-offs on Wall Street (FT.com)
FT.com - US stocks began the day with more sharp sell-offs on Thursday, after a report said new home-building dropped to a 10-year low lin July and Countrywide, the beleaguered mortgage giant, said it would have to draw on $11.5bn of credit. More »
Fannie bulked up on risky loans in 2006 (Reuters)
Reuters - Fannie Mae, the nation's largest source of home loan funding, increased its holdings of risky subprime loans in 2006 while its profits fell that year, the company said on Thursday in a long-delayed report. More »
J.C. Penney 2Q profit up, lifts view (AP)
AP - Department store retailer J.C. Penney Co. said Thursday its second-quarter profit edged up nearly 2 percent, beating Wall Street expectations, though it said customers are worried about high energy prices and the weak housing market. More »
Wall Street slides again as Countrywide takes toll (FT.com)
FT.com - US stocks plunged on Thursday after Countrywide, the beleaguered mortgage group, said it would have to draw on $11.5bn of credit and an official report showed new homebuilding dropped to a 10-year low in July. More »
Mortgage rates rise slightly (AP)
AP - Rates on 30-year mortgages edged up slightly this week after falling for three straight weeks. More »
Schumer bill would lift Fannie, Freddie caps (Reuters)
Reuters - U.S. Senator Charles Schumer said on Thursday he would introduce legislation to temporarily lift the portfolio limits on mortgage finance companies Fannie Mae and Freddie Mac if their regulator fails to act. More »
Fannie Mae profit down 36 percent (AP)
AP - Fannie Mae, the largest U.S. buyer and guarantor of home mortgages, reported Thursday that its profit dropped 36 percent in 2006 and said it expects higher delinquencies and credit losses this year from the turbulence in the mortgage market. More »
US mortgage giant Countrywide borrows 11.5 bln dollars (AFP)
AFP - Countrywide Financial Corp., the leading US mortgage lender, said Thursday it borrowed 11.5 billion dollars from 40 banks to boost its stressed finances, sending shock waves through the markets. More »
Markets fall as corporate America braces for impact (Reuters)
Reuters - With stock markets falling, the U.S. housing market in a tailspin and credit tightening, corporate America is bracing for impact. More »
Sarkozy sees role for G7 in market woes (FT.com)
FT.com - Nicolas Sarkozy, the French president, on Thursday waded into the subprime mortgage crisis that has thrown global markets into turmoil, with a call for G7 governments to work with central banks and the International Monetary Fund to improve financial transparency. More »
Bear Stearns cuts 240 subprime jobs (Reuters)
Reuters - Bear Stearns Cos Inc said on Thursday it will cut about 240 subprime lending jobs as a global credit squeeze and a subprime lending crisis rattles markets. More »
McCain Says Fed Should Consider Half-Point Interest Rate Cut (Bloomberg)
Bloomberg - Aug. 16 (Bloomberg) -- Republican U.S. presidential candidate John McCain said the Federal Reserve Board should consider cutting interest rates by as much as a half percentage point to address the nation's subprime mortgage crisis. More »
First Magnus, big mortgage lender, halts loans (Reuters)
Reuters - First Magnus Financial Corp., one of the largest independent U.S. mortgage lenders, said on Thursday it has stopped funding home loans and taking mortgage loan applications because investors are not buying its loans. More »
Bank Files Foreclosures Against Massey, Waters
Two more Fayetteville developers are hit with foreclosure filings as the northwest Arkansas real estate market slowdown continues to claim casualties. More »
State, Local Economies See Growth in 2Q
The state of Arkansas and the Northwest Arkansas region both experienced marginal but positive growth during the second quarter of 2007. More »
Credit Agencies, Banks, Buyers Share Blame For Subprime Mess (Investor's Business Daily)
Investor's Business Daily - The nation's credit crisis is nothing if not a testament to the power of packaging. More »
Manager Avoids Housing Market Woes (Investor's Business Daily)
Investor's Business Daily - The Federated Mid Cap Growth Strategies Fund's method of ferreting out growth has led it away from financial stocks and toward consumer staples and industrials. More »
Countrywide Dives After Tapping Banks For Needed Funds (Investor's Business Daily)
Investor's Business Daily - Roiling markets for a second day, Countrywide said Thursday that it drew down all of an $11.5 billion credit line after the mortgage giant struggled to raise short-term debt. More »
Economy, Credit Woes Take Toll On Oil ETFs (Investor's Business Daily)
Investor's Business Daily - Looks like the heady ride for oil has run out of gas, thanks to the subprime mortgage crisis and global credit squeeze. More »