CNN - "How housing rescue bill can help you" (7-28-08)

"The Senate on Saturday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
President Bush is likely to sign the bill into law within days. After the law kicks in on Oct. 1, thousands of at-risk borrowers will be able to refinance their unaffordable old mortgages into new low-cost fixed-rate loans insured by the Federal Housing Administration (FHA)."

USA Today - "Housing rescue bill may fall short; who benefits?" (7-28-08)

"Is it a remedy for the worst housing slump the nation has suffered in decades? Or merely a taxpayer-funded bailout that will fail to reverse the plunge in home prices, the surge in foreclosures and the grave threat that overhangs the economy?"

Bloomberg - "Mortgage Debt Least of Bad Bets as Investing Sinks" (7-28-08)

"The fastest inflation in 17 years and a fourth straight quarter of U.S. profit declines are turning debt sold by Fannie Mae and Freddie Mac into the favorites of the world's biggest bond investors. Pacific Investment Management Co., T. Rowe Price Group Inc., RiverSource Institutional Advisors and U.S. Bancorp's FAF Advisors, which oversee more than $1 trillion, say the government's decision to stand behind the beleaguered U.S. housing finance companies and their yields compared with Treasuries make the bonds a buy. The Senate approved legislation on July 26 allowing the U.S. to inject capital into Fannie and Freddie. President George W. Bush plans to sign it into law."

CNN - "Bonds rise after bank shutdowns" (7-28-08)

"Treasury prices rose Monday after the government shutdown of two local banks on Friday sparked further worries about the strength of the U.S. financial sector. The benchmark 10-year note rose 21/32 to 98 27/32, and its yield fell to 4.03% from 4.09% late Friday. Bond prices and yields move in opposite directions."

Bloomberg - "IMF Says End of U.S. Housing Slump `Not Visible'" (7-28-08)

"The International Monetary Fund said there's no end in sight to the U.S. housing recession and warned that deteriorating credit conditions for consumers and banks may prolong a period of slow economic growth. "

Realty Times - "Market Conditions" (7-28-08)

"In the most recent report from the National Association of Realtors, stats shows that existing homes sales fell another 2.6 percent in June. They are now 15.5 percent lower than June of 2007."