NAR - "Existing-Home Sales Rise on Improved Affordability" (10-24-08)

"Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 5.5 percent to a seasonally adjusted annual rate¹ of 5.18 million units in September from a level of 4.91 million in August, and are 1.4 percent higher than the 5.11 million-unit pace in September 2007."

CAR - "September Sales and Price Report" (10-24-08)

"Home sales increased 96.7 percent in September in California compared with the same period a year ago, while the median price of an existing home fell 40.9 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today."

The San Diego Union Tribune - "Rates fall on 30-year fixed-rate mortgages" (10-24-08)

"Rates on 30-year fixed-rate mortgages dropped sharply this week, falling to the lowest level in five weeks, Freddie Mac reported in its nationwide survey. The rates fell to 6.04 percent, down from 6.46 percent last week."

Bloomberg - "Paulson Weighs Stakes in Insurers, Regional Lenders" (10-24-08)

"The U.S. Treasury is considering taking stakes in insurers, as it prepares a new round of capital injections to target regional banks and other financial companies, a person briefed on the plan said. A final decision hasn't been made on whether insurers will be included in the government's purchases of preferred equity, said the person, who spoke on the condition of anonymity. The Treasury, which had planned to announce investments in about 20 banks, reversed course and will let firms disclose their own share sales in coming days, the person said."

Bloomberg - "Freddie Mac Mortgage Portfolio Shrinks $24 Billion" (10-24-08)

"Freddie Mac said its portfolio of home loans and mortgage bonds shrank at an annualized rate of 38 percent last month as federal regulators seized control of the government-sponsored mortgage-finance company. The portfolio, which had expanded by $85.8 billion in April through July, fell by $24 billion in September to $736.9 billion as Freddie Mac sold off more assets, the McLean, Virginia-based company said in its monthly volume summary today."

Orange County Register - "Downey eyes government bailout" (10-24-08)

"Newport-Beach based Downey is watching to see if the government will give it money by buying its preferred shares, or if the government will buy some of its bad assets. And there are plenty of bad assets. Downey said its dud loans and bank-owned properties climbed to $2 billion in the quarter, or 15.7% of its total assets."

Orange County Register - "Has O.C. office market bottomed?" (10-24-08)

"Studley Inc. thinks O.C.’s office market may have hit the bottom based on a jump in leasing in the third quarter. The company, which represents tenants, says 1.9 million square feet of space was leased in O.C. in the third quarter, up 15.6% from the second quarter and a 32.3% increase from the third quarter a year ago."