Los Angeles Times - "Signs indicate recession may be nearing a bottom" (4-3-09)

"New signs that the recession could be nearing a bottom emerged Thursday, as factory orders were far better than expected and the Dow industrials briefly surged over 8,000 for the first time in two months. The Commerce Department said orders for manufactured goods rose 1.8% in February, reversing six straight monthly declines and easily beating estimates of another drop. Other economic indicators came in better than expected Wednesday, including construction spending and pending home sales."

San Francisco Chronicle - "Report finds U.S. mortgage problems increasing" (4-3-09)

"The report covers about 34.7 million home loans, representing two-thirds of all outstanding U.S. mortgages. It looks at their performance during the fourth quarter of 2008, as well as the full year. Of all mortgages covered, at year-end slightly more than 10 percent were nonperforming, meaning behind on payments, compared to about 7 percent nonperforming in September."

Yahoo - "Fed 'extremely uncomfortable' about bailouts" (4-3-09)

"While acknowledging that the Federal Reserve was 'extremely uncomfortable' about last year's bailouts of big financial companies, Fed Chairman Ben Bernanke said Friday the central bank's strategy to ease the financial crisis is working."

CNN - "Signs of life in California real estate" (4-3-09)

"No state has been harder hit by the housing bust than California. It has piled up more foreclosures and has endured among the worst home-price declines. The median price of a single-family home sold in February was $247,590, down 41% from 12 months earlier, according to the California Association of Realtors (CAR). "

Yahoo - "Bailed-out banks may buy toxic assets: report" (4-3-09)

"U.S. banks that have received government aid, including Citigroup Inc, Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co, are considering buying toxic assets to be sold by rivals under the Treasury's $1,000 billion plan to revive the financial system, the Financial Times said."

Bloomberg - "Bernanke Easing Mortgage Rates for Consumer Rebound" (4-3-09)

"U.S. Federal Reserve Chairman Ben S. Bernanke is delivering what he promised five months ago, record- low mortgage rates and a refinancing boom that’s putting cash in consumers’ pockets."

Bloomberg - "Office Vacancy Rate in U.S. Climbs to Four-Year High" (4-3-09)

"U.S. office vacancy rates rose in the first quarter to the highest in almost four years as corporate job cuts reduced demand for space, property research firm Reis Inc. said."

Orange County Register - "O.C. condo pricing back at Sept. 2002 level" (4-3-09)

"$380,000 median selling price that is -25.3% vs. a year ago and -41% below June 2007’s peak of $645,000. Condo are offer by a third in a year — back to a level ($250,000) last seen in September 2002."

Orange County Register - "Forget dodging refinance fees" (4-3-09)

"Unlike the Fed setting the discount rate, long -term rates are set by the market. If the market drives rates to 4% or 5% or 6%, that’s what it will be. No one has ever legislated rates and that’s not going to happen any time soon. On March 18th, the 10-year T-bond yield dropped from about 2.95% to 2.55% in a matter of minutes. Mortgage rates followed. Bond Yields then increased for the next four days, standing at 2.70% recently. Mortgage rates are still below 5% today but you can see the volatility."