Housing Starts

Today's housing headlines.

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MarketWatch: "U.S. home prices fell a seasonally adjusted 1.7% in the first three months of 2008—the largest quarterly price decline on record, the Office of Federal Housing Enterprise Oversight reported Thursday."

Associated Press, via Yahoo: "Rates on 30-year mortgages dipped below 6 percent this week, falling to their lowest level in five weeks."

Washington Post: "Mark and Elaine Hendricks recently offered their 2000 Mustang convertible as a freebie to anyone who would buy their Woodbridge house, but even that failed to distinguish it from the roughly 700 other homes for sale in their ZIP code."

Wall Street Journal: "Executives of Fannie Mae and Freddie Mac told Congress they are finally bringing down interest rates on some 'jumbo' mortgages."

Reuters: "A U.S. banking regulator on Thursday urged banks to shore up reserves for losses from home equity loans, which were widely offered amid low interest rates and intense competition to close mortgage deals."