NAR - "Realtors® Join Business Roundtable in Calling for Renewed Focus on Housing Stabilization" (6-10-09)

"NAR has called on Congress and the Obama administration to expand the first-time home buyer tax credit to all home buyers, regardless of income. In addition, it is imperative to maintain mortgage interest rates below 5 percent, make the loan limit increases permanent, and strengthen foreclosure mitigation and loan modification efforts. These are all actions that BRT is fully supporting and we welcome their involvement."

CBIA - "California New-Home Market Continues to Stablize, CBIA Announces" (6-10-09)

"During April, 2,771 new homes and condominiums were sold in the subdivisions tracked by Costa Mesa-based HWMI, compared to 3,989 in April 2008. Sales of single family homes were down by 32 percent, while sales of townhomes and “plexes” – duplexes, triplexes, etc. – were down 17 percent and sales of condominiums were off by 32 percent. Compared with the same period last year, the median base price of homes sold dropped by 10 percent."

Mortgage Bankers Association - "Purchase Applications Remain Steady, Refinance Applications Continue to Fall in Latest MBA Weekly Survey" (6-10-09)

"The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending June 5, 2009. The Market Composite Index, a measure of mortgage loan application volume, was 611.0, a decrease of 7.2 percent on a seasonally adjusted basis from 658.7 one week earlier. On an unadjusted basis, the Index increased 15.7 percent compared with the previous week and increased 7.6 percent compared with the same week one year earlier."

Bloomberg - "CB Richard Ellis Surges on Plan to Help Pay $2.4 Billion Debt" (6-10-09)

"CB Richard Ellis Group Inc., the commercial property broker with $2.4 billion in debt, surged as much as 21 percent after announcing plans to raise up to $550 million selling shares and bonds to the public and to investors including the U.S. hedge fund run by billionaire John Paulson."

Bloomberg - "MetLife Says Commercial Mortgage Defaults Will Rise" (6-10-09)

"MetLife Inc. Chief Investment Officer Steven Kandarian said commercial mortgage defaults will rise in the next two to three years after the economic slump subsides."