Bloomberg - "U.S. Mortgage Rates Drop to 5.32%, Freddie Mac Says" (7-2-09)

"Mortgage rates in the U.S. fell this week, easing concern the Federal Reserve plan to lower rates by purchasing mortgage-backed securities was losing momentum. The average 30-year rate dropped to 5.32 percent from 5.42 percent, mortgage buyer Freddie Mac of McLean, Virginia, said today in a statement. The 15-year rate was 4.77 percent."

Bloomberg - "Trustee May Reject Madoff Office Lease, Judge Says" (7-2-09)

"Trustee Irving Picard’s request to reject the 1986 lease for the 17th through 19th floors, used by Bernard L. Madoff Investment Securities LLC to run a $65 billion Ponzi scheme, was approved yesterday by U.S. Bankruptcy Judge Burton Lifland in New York, according to court filings. The lease rejection is effective June 30."

Bloomberg - "GM Plans ‘Garage Sale’ for Toxic Plants, New Jersey Golf Course" (7-2-09)

"As General Motors Corp. prepares to sell its best assets to a streamlined new entity, the worst of what it owns will be auctioned off in bankruptcy court, including contaminated factory sites, parking lots in Flint, Michigan, and a nine-hole golf course in New Jersey."

Bloomberg - "Payrolls Fall More Than Forecast, Unemployment Rises" (7-2-09)

"Employers in the U.S. cut 467,000 jobs in June, the unemployment rate rose and hourly earnings stagnated, offering little evidence the Obama administration’s stimulus package is shoring up the labor market."

Orange County Register - "Irvine list price, home listings down" (7-2-09)

"Irvine’s average home listing price has continued to creep downward, according to Trulia.com. But the average list price remains a pricey $927,000. The number of available listings is dwindling after a small spike."

Wall Street Journal - "Beazer to Pay Up to $53 Million in Fraud Case" (7-2-09)

"Beazer Homes USA Inc. will pay up to $53 million to settle mortgage fraud charges related to federally insured mortgage loans the company made to buyers of its homes. The U.S. Department of Justice said Wednesday that Beazer will pay $5 million to the federal government and up to $48 million to victimized homeowners."

Inman - "A stickier real estate Web site" (7-2-09)

"So what makes a Web site sticky? Certainly, it's part layout, logical navigation, interactivity, look and feel, and the absence of clutter and distracting elements, such as pop-up ads. This is what I'd call good design. But many would argue the ultimate sticky element is good content"

Realty Times - "Home Remodeling Showing Signs of Recovery, Future Looks Bright" (7-2-09)

"The bad news, the most recent semi-annual RemodelorMove.com Remodeling Permit Activity Report of 5,000 homeowners considering remodeling shows a 20 percent decline in the number of remodeling permits issued during the first quarter of 2009, compared to the same quarter in 2008. The first bright spot for the home remodeling industry comes from the first quarter 2009 report, which shows an increase of five percent in the number of homeowners who stated they will probably remodel in the next 12 months."