REAL ESTATE

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Housing starts jump in May; PPI up 0.2 percent

New U.S. housing starts and permits rebounded in May from record lows as ground-breaking for multifamily units surged after tumbling the prior month, a government report showed on Tuesday.

Is the housing bust about to take Manhattan?

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New York City real estate prices are looking increasingly shaky as instability in two of the city's sexier submarkets -- second homes in the Hamptons, and new condos in Manhattan -- register the latest signs of a housing downturn.

New home subsidy plan seen with little support

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Proposed legislation that would provide consumers with a $15,000 tax credit for home purchases to stimulate the depressed U.S. housing market is seen as having very little chance of getting through Congress.
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Quick Take: Rising Mortgage Rates, Future Federal Reserve Chairman

The 10-year Treasury, the benchmark rate which mortgage rates are priced off, have risen significantly over the past month - from under 3 percent and now closely approaching 4 percent. Mortgage rates will follow similar patterns and could soon top 5.5 percent on a conforming 30-year fixed rate on average.
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Nearly 1 in 4 homes for sale reduced price

Nearly one in four U.S. homes for sale on June 1 had their prices sliced at least once since landing on the market, data compiled by real estate website Trulia.com showed on Friday.
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US mortgage rates surge to highest since Dec-Freddie Mac

Interest rates on U.S. 30-year fixed-rate mortgages surged 0.38 percentage point in the latest week, reaching its highest level since the week ending Dec. 11, 2008, according to a survey released on Thursday by home funding company Freddie Mac (FRE.N).
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Nine accused of $92 million U.S. mortgage fraud scheme

Nine people have been indicted on charges of conspiring to defraud Washington Mutual Bank and DLJ Mortgage Capital Inc, a unit of Credit Suisse Group AG, in a $92 million mortgage fraud scheme, prosecutors said on Thursday.
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U.S. recovery hopes face doubts on jobs, mortgages

The United States may have hit a bump on the road to economic recovery, according to data released on Wednesday, with half a million private sector jobs lost in May and mortgage applications falling last week in the face of rising interest rates.
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U.S. begins Fannie Mae, Freddie Mac reform journey

U.S. lawmakers on Wednesday will open a debate that has stymied them for at least a decade: the future of Fannie Mae and Freddie Mac, the giant housing finance agencies nearly felled by the credit crisis.
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Stock futures flat ahead of pending home sales

U.S. stock index futures pointed to a flat open on Wall Street on Tuesday as investors awaited key housing data a day after the S&P 500 index jumped to its highest close in seven months.
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U.S. construction spending unexpectedly up in April

U.S. construction spending unexpectedly posted its biggest increase in eight months in April, advancing for a second straight month as the private sector put money into both residential and nonresidential projects, according to a government report on Monday.
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Federal Reserve puzzled by yield curve steepening

The Federal Reserve is studying significant moves in the U.S. government bond market last week that could have big implications for the central bank's strategy to combat the country's recession.
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MidAmerican's Sokol sees U.S. housing staying weak

David Sokol, chairman of Berkshire Hathaway Inc's (BRKa.N) MidAmerican Energy Holdings and a contender to succeed Warren Buffett, warned that the U.S. housing market still has a ways to go before bottoming out.
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Freddie Mac April portfolio shrank annualized 50.9 pct

Freddie Mac (FRE.P) (FRE.N), the second-largest U.S. home funding company, on Thursday said its mortgage investment portfolio shrank by an annualized 50.9 percent rate in April, while delinquencies on loans it guarantees accelerated.
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The New World of Electronic Real Estate

If there is one industry suited to embrace the online revolution, it’s real estate. After all, the Internet is all about bringing together people and information, making it easier for the right people to find the right information. Substitute the word “houses” for “information”, and you have real estate.
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U.S. 25-city housing index stabilizes in 2009

A U.S. 25-city home price index is stabilizing this year after plunging through most of 2008, and home prices in some cities actually rose in March, according to Radar Logic, a real estate data and analytics company.
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Investors expand fraud claims against Freddie Mac

Freddie Mac investors have filed expanded court claims accusing the mortgage finance company and three former executives of committing fraud by misleading them about risky loan practices and manipulating financial results.
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T2 warns of

Whitney Tilson, the outspoken founder of hedge fund T2 Partners LLC, is girding for a deeper mortgage market meltdown after being singed in his first foray into the credit crisis' most toxic of securities -- subprime bonds.
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U.S. housing IPO stalls, auction process abandoned

The initial public offering of the financial instrument for betting on U.S. home prices has failed because its auction could not generate a balance of investor interest in the product's two linked trusts, according to a filing with the U.S. Securities and Exchange Commission.
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U.S. mortgage rates fell in latest week: Freddie Mac

U.S. mortgage rates fell in the latest week, trekking closer to a record low set last month. Interest rates on U.S. 30-year fixed-rate mortgages fell to 4.82 percent for the week ending May 21, down from the previous week's 4.86 percent, according to a survey released on Thursday by home funding company Freddie Mac.

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