The index, which is considered to be a leading indicator of existing home sales, reached its highest level since October, but was still down 12.3% from June 2007. Pending home sales increased in June in all four regions, with a gain of 9.3% in the South, 4.6% in the West, 3.4% in the Northeast and 1.3% [...] [...more]
Freddie Mac, which has been stung by surging delinquencies, will double the financial incentives it offers to mortgage servicers that help borrowers with Freddie-owned loans avoid foreclosure. The mortgage giant has struggled in recent months as federal officials have sought to reassure investors about its financial health and pressure mounts to raise fresh capital to offset [...] [...more]
