Fed cuts rates again and hints at pause

The Federal Reserve cut its key interest rate by a quarter percentage point Wednesday, but the central bank's statement signaled it may be the last rate cut for at least a while.

http://rss.cnn.com/~r/rss/money_topstories/~3/280958372/index.htm

$900M loss and more bad loans - Countrywide

Countrywide Financial Corp. swung to a nearly $900 million loss Tuesday, after the mortgage lender was forced to set aside more money for credit losses as a result of further deterioration in the housing market.

http://rss.cnn.com/~r/rss/money_topstories/~3/280155588/index.htm

Foreclosures up 112%

It's hard to belive but "one out of every 194 U.S. households received a foreclosure filing in the first three months of 2008, according to the latest figures released Tuesday by RealtyTrac." I really thought this foreclosure thing was overblown but I could be wrong.

http://rss.cnn.com/~r/rss/money_topstories/~3/279964560/index.htm

Housing relief efforts slow as pace of foreclosures rise

The pace of housing rescue efforts slowed in the first quarter of the year, according to a new report, while the number of people losing their homes to foreclosure skyrocketed during the same period.

http://rss.cnn.com/~r/rss/money_topstories/~3/279646602/index.htm

Vacant homes for sale hit a record high

Not the same here in central IL but wow:

http://rss.cnn.com/~r/rss/money_topstories/~3/279489339/index.htm

Buyers Market - New homes in Washington, IL

So, I spent 2 hours over in Washington doing the open house thing. It's a buyers market for sure. I couldn't believe how fast they talked about doing extra things like finishing the bsmt if you had a good offer. One builder (had a whole subdivision) was offering to take your house on a trade. I though that was interesting. My understanding, they want full price on the new house and will give you full price or extra on your current house. It keeps prices in the subdivision high and they can sell your old house at cost. With 5-6 vacant houses and more partly finished I think they are eating lots of interest on the project.

New home sales at 16-year low

New home sales fell in March to the lowest level in more than 16 years, according to a key government report on the battered housing market released Wednesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/276929770/index.htm

Homebuilders: No recovery until 2009

The damaged housing and home construction markets will continue to take a beating at least through the end of the year, according to economists who spoke Thursday at a forecast conference sponsored by the National Association of Home Builders.

http://rss.cnn.com/~r/rss/money_topstories/~3/276976640/index.htm

Foreclosures jump 57% in March

Foreclosure filings jumped 57% in March compared with the same month last year and rose 5% versus February, as the nation's housing market continues to deteriorate.

http://rss.cnn.com/~r/rss/money_topstories/~3/270583456/index.htm

60% of Americans not buying homes - Poll

http://rss.cnn.com/~r/rss/money_topstories/~3/270066763/index.htm

Pending home sales at all-time low

An index of homes under contract for sale fell more than expected in February, reaching the lowest level since the index's 2001 debut, according to a report released Tuesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/266372253/index.htm

Fed sees economy getting worse

Some members of the Federal Reserve are worried about the possibility of a "severe and protracted downturn" in the U.S. economy, according to the minutes of the central bank's latest minutes released Tuesday.

http://rss.cnn.com/~r/rss/money_topstories/~3/266509029/index.htm

Construction spending declines

Construction spending fell in February, according to a government report released Tuesday, but the decline was less than expected.

http://rss.cnn.com/~r/rss/money_topstories/~3/261992034/index.htm