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Yahoo! News: Business - Real Estate
Business - Real Estate

Con man could get life under Calif. 3-strikes law (AP)
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime.
Oil prices rise after mixed economic news (AP)
AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.
Summary Box: Mortgage rates hit low of 4.32 pct. (AP)
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.
How to Get a Government-Backed, Zero-Down-Payment Mortgage (U.S. News & World Report)
U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased credit scores and higher down payment requirements--on applicants of all stripes. And as investors fled for the hills, the exotic mortgage products that helped fuel the real estate boom have largely disappeared from the private market. But that doesn't mean all buyers need a big pile of cash to snag a home loan. ...
Pending home sales rise 5.2 percent in July (AP)
AP - The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak.
Summary Box: Pending home sales up 5.2 pct in July (AP)
AP - PENDING HOME SALES RISE: The number of buyers who signed contracts to purchase previously occupied homes increased by 5.2 percent in July from June.
Mortgage rates hit record low: Freddie Mac (Reuters)
Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Communities key in foreclosure fight: Fed officials (Reuters)
Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.
Instant View: Pending home sales rise in July (Reuters)
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
Mortgage rates hit decades-low of 4.32 percent (AP)
AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
US pending home sales bounce back (AFP)
AFP - US pending home sales rose dramatically in July, a trade group said Thursday, promising a much-needed boost to the sluggish housing market.
Pending home sales rise 5.2 percent in July (Reuters)
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.
Court battle set over giant NYC housing complex (Reuters)
Reuters - The future of an 80-acre New York apartment complex will be at stake on Thursday as a judge considers whether a venture led by a prominent hedge fund investor may conduct a foreclosure auction.
Banks to allow local groups to buy foreclosures (AP)
AP - Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.
Mortgage applications rise 2.7 pct on low rates (AP)
AP - Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.
Construction activity declines 1 percent in July (AP)
AP - Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.
Gold, silver rise as investors seek safer assets (AP)
AP - Wary investors turned to gold Tuesday, sending the price to its highest level in two months, despite slightly more optimistic economic news.
Stock investors brace for another ugly September (AP)
AP - The economy is weakening, home sales are plunging and stocks are on a long slide. Now comes something even scarier for investors — the beginning of what is traditionally the worst month in the market.
Forget Treasuries. Buy Convertibles Instead. (The Motley Fool)
The Motley Fool - The recent pullback in the stock market has many investors running for cover. Meanwhile, fear of an imminent double-dip recession and concerns about renewed pressure in the housing market has pushed bond prices to historic highs, reducing bond yields and creating an income crunch for savers. Throughout 2010, billions of dollars have gone into bond mutual funds, and the trend shows no sign of reversing anytime soon.
2 new programs planned to help homeowners (AP)
AP - The Obama administration's top housing official says several new programs are in the works to help try to revive the housing market.

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