NAHB - "Remodeling Activity Declines Slightly In Fourth Quarter" (2-7-08)

"Remodeling activity showed pressure from the housing downturn during the fourth quarter of 2007, according to the National Association of Home Builder’s (NAHB) Remodeling Market Index (RMI). The current market conditions indicator decreased to 40.9 from 46.2 in the third quarter. And the future expectations measure declined to 37.9 from 43.3 in the previous quarter."

NAR - "Existing-Home Sales to Hold in Narrow Range, then Begin Upward Trend" (2-7-08)

"Lawrence Yun, NAR chief economist, said sales activity is expected to remain soft through the first half of the year despite a generational low in mortgage interest rates. 'Household formation was only half of what it should have been last year given the demographics of a growing population and sustained job growth, so there clearly is a pent-up demand from buyers who are on the sidelines,' he said."

NAR - "Fannie and Freddie Reform Will Significantly Impact Housing Market, Says NAR" (2-7-08)

"The National Association of Realtors® today expressed ongoing support for legislative reform to Fannie Mae and Freddie Mac that would help stabilize the housing market and improve liquidity to the secondary nonconforming market. NAR stressed the importance of permanently increasing the loan limits as part of any reform package; that will help encourage healthier conditions in the housing market and strengthen the national GDP."

Yahoo - "D.R. Horton Swings to 1Q Loss on Charges" (2-7-08)

"D.R. Horton Inc., the nation's largest homebuilder, said Thursday it swung to a loss in its fiscal first quarter, due to hefty charges to write off inventory and land values as the housing slump continues to worsen. Losses for the quarter ended Dec. 31 totaled $128.8 million, or 41 cents per share, compared with profit of $109.7 million, or 35 cents per share, a year ago. The 2008 quarter includes $245.5 million in pretax charges to write down inventory and the value of land deposits."

Financial Times - "S&P unveils ratings overhaul" (2-7-08)

"Standard & Poor’s will on Thursday unveil a wave of business reforms in an effort to quell mounting regulatory pressure and investor anger about the failure of credit ratings agencies to foresee subprime housing losses. The agency will pledge to overhaul the way it measures the riskiness of securities, step up investor education and reduce potential conflicts of interest by taking steps such as rotating analysts around beats."

CNN - "Mortgage rates flat on recession fears" (2-7-08)

"Mortgage rates were flat this week, following a disappointing service sector report, Freddie Mac said Thursday. The government-sponsored loan buyer said the rate on a 30-year fixed-rate loan averaged 5.67% for the week ending Thursday, down from 5.68% last week, and still well below rates at this time last year Freddie Mac noted."

CNN - "Freddie, Fannie debt may pose risk to economy" (2-7-08)

"The increased share of housing debt taken on by Freddie Mac and Fannie Mae during the housing slump has put the two government sponsored enterprises at risk, it was charged Thursday. The two outfits are "reducing risks in the market, but concentrating mortgage risks on themselves. These risks are beginning to take their toll," said James Lockhart, director of the Office of Federal Housing Enterprise Oversight (OFHEO), which regulates Fannie and Freddie. He was speaking Thursday at a Senate Banking committee on regulatory reform."

Bloomberg - "MGIC Says Sales May Fall as It Seeks to Reduce Losses" (2-7-08)

"MGIC Investment Corp., the largest U.S. mortgage insurer, is scaling back coverage in California, Florida, Arizona and Nevada to reduce losses on loans. The company will offer fewer policies to homebuyers who don't have top credit scores, Milwaukee-based MGIC said today in a regulatory filing. The insurer will also tighten standards in parts of 14 other states."

Bloomberg - "Ackermann Says Bond Insurers Threaten Debt `Tsunami'" (2-7-08)

"Ackermann made his comments on the day Deutsche Bank said fourth-quarter profit fell 48 percent, less than analysts estimated, to 953 million euros ($1.39 billion) as it avoided the collapse of the U.S. subprime mortgage market. The shares rose 0.4 percent to 75.27 euros in Frankfurt, valuing the bank at 40 billion euros. JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the third-largest U.S. bank may lose $200 million if bond insurers have their credit ratings lowered, at a conference today in Naples, Florida."

Real Estate Journal - "Builders Court Buyers With 'Price Protection'" (2-7-08)

"As the housing slump drags on, some builders have a deal for potential buyers: Sign a contract, and if the cost of comparable homes drops before closing, you get the lower price. Companies including KB Home and Ryland Group hope such "price protection" guarantees will lessen consumers' paralyzing fears about buying real estate whose value is falling and get them to the dotted line, bring in much-needed cash and reduce high cancellation rates."