LA Times - "Mixed picture for housing prices" (7-29-06)

"Fannie Mae chief sees an overall flattening of appreciation and a weakening of condo sales in many markets."

"Berson thinks the Federal Reserve "is not done tightening" the ratchet on interest rates, and will move up short-term rates again in August. After that, he says, rates are likely to stabilize, bringing at least a temporary cessation to rising home mortgage rates."

"He expects average home price appreciation, which had been running at a double-digit annual clip nationally for the last year, to drop to 3% or below by the end of the year. (On this point Berson is more bearish than most of his housing and mortgage industry colleagues, who project average appreciation in the 4% to 6% range.)"