NAHB - "New-Home Sales Rise 2.4 Percent In July" (8-26-08)

"Sales of newly built single-family homes rose 2.4 percent to a seasonally adjusted annual rate of 515,000 units in July, the Commerce Department reported today. The report also indicated continuing contraction in the number of new-homes for sale as builders keep a tight rein on inventories to help restore better balance between market supply and demand."

NAHB - "Multifamily Builders Choose To Build Green" (8-26-08)

"While a majority of the survey respondents – 74 percent – said that buyers and renters are willing to pay more for green amenities, the median additional amount they are willing to pay is only about two percent. In the NAHB survey, which polled multifamily builders and developers nationwide on their green building practices, 89 percent of respondents reported that they are installing energy- efficient appliances and lighting in their multifamily communities."

Yahoo - "Consumer outlook up, worst may be over for housing" (8-26-08)

"The Conference Board, a private research group, said Tuesday that its consumer confidence index rose to 56.9, up from a revised 51.9 in July. That's the largest gain since August 2006, and is ahead of the 53 expected by economists surveyed by Thomson/IFR."

Inman News - "New-home sales rate sinks 35.3% in July" (8-26-08)

"The sales rate for new single-family homes fell about 35.3 percent year-over-year in July, the U.S. Census Bureau and Department of Housing and Urban Development reported today, with the median new-home price dropping 6.2 percent and the average price down 4.1 percent. The seasonally adjusted annual rate of new single-family home sales reached 515,000 in July, up 2.4 percent from 503,000 in June but down significantly from 796,000 in July 2007. This rate is a projection of a monthly rate over a 12-month period, adjusted to account for seasonal fluctuations in sales activity."

Yahoo - "Fed: Rates not too low; next move likely to be up" (8-26-08)

"Documents, released Tuesday, provided insight into the Fed's thinking at the Aug. 5 meeting, when central bank policymakers decided to hold its key rate steady at 2 percent for the second straight meeting. Confronted by problems at every turn -- rising unemployment, shaky growth, credit troubles and creeping inflation -- the Fed took a gamble that once again the best move was none at all."

Bloomberg - "Fannie, Freddie Can Absorb Losses, Citigroup Says" (8-26-08)

"Fannie Mae and Freddie Mac can withstand losses through the end of the year and still keep a cushion above their minimum capital requirements, according to Citigroup Inc. analysts. Freddie of McLean, Virginia, will have $12.7 billion of capital above the minimum requirement, according to Citigroup Inc. analysts. Washington-based Fannie will have $20.3 billion."

Bloomberg - "Merrill, Wachovia Hit With Record Refinancing Bill" (8-26-08)

"Banks, securities firms and lenders have a record $871 billion of bonds maturing through 2009, according to JPMorgan Chase & Co., just as yields are at their most punitive compared with Treasuries. The increase in yields may cost them as much as $23 billion more in annual interest versus a year ago based on Merrill Lynch index data."

CNN - "Mortgage fraud still soaring" (8-26-08)

"Mortgage fraud is still soaring, according to a new report from the Mortgage Asset Research Institute (MARI), a division of ChoicePoint. (CPS) The study found that the number of fraudulent loans issued during the first three months of 2008 skyrocketed 42% compared with the same period in 2007."

Yaho0 - "S&P: Home prices drop by record amount in 2Q" (8-26-08)

"The Standard & Poor's/Case-Shiller U.S. National Home Price Index tumbled a record 15.4 percent during the quarter from the same period a year ago. The monthly indices also clocked in record declines. The 20-city index fell by 15.9 percent in June compared with a year ago, the largest drop since its inception in 2000. The 10-city index plunged 17 percent, its biggest decline in its 21-year history."

Bloomberg - "Lehman May Form New Company to Buy Mortgage Assets" (8-26-08)

"Lehman, the largest underwriter of mortgage bonds last year, has been trying to reduce assets linked to that market as demand dried up and prices plummeted, generating more than $8 billion in writedowns and credit losses. BlackRock Inc., the largest publicly traded U.S. money manager, is considering a purchase of some of Lehman's commercial mortgages, people familiar with those discussions said last week."