REAL ESTATE

Frequent trips to the Met's Egyptian rooms in New York inspired Leede's debut Ra Collection of textiles, which features block-printed Ancient Egyptian motifs and a subtle, earthy palette.

The Pending Home Sales Index,* a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1.

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.

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.

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.

Fannie Mae, the largest provider of funding for U.S. residential mortgages, will begin demanding compensation from mortgage servicing companies that fail to properly handle troubled mortgage loans.

U.S. officials are not discussing renewal of a popular homebuyer tax credit that expired in April, U.S. President Barack Obama's top housing adviser said on Wednesday.

U.S. mortgage applications for home purchasing and refinancing increased last week as interest rates hit a new low, a glimmer of hope for a housing market that has failed to find footing in the absence of government support.

U.S. troubled loans held by banks declined for the first time in more than four years, pushing bank industry earnings up to $21.6 billion in the second quarter.

Singapore announced on Monday restrictions on people buying second homes as part of new measures to cool its red-hot residential market, joining Hong Kong and China in taking steps to keep a lid on housing prices.

Agricultural Bank of China Ltd, the country's third-biggest lender, said on Monday that its level of real estate loans were the lowest among its peers and its yearly profit could exceed forecasts.

When the lender took back the foreclosed property the day before the closing, Florida-based sales associate Brenda Parish had to scramble to make sure the sale closed.

The number of U.S. homes headed for foreclosure fell during the second quarter, marking the first such drop since the housing slump began in 2006, but the improvement may be fleeting as the number of newly delinquent homeowners rose, a banking group said on Wednesday.

U.S. mortgage rates fell in the latest week to the lowest on record and posted their ninth drop in the last ten weeks, Freddie Mac said on Thursday.

Loss-making U.S. mortgage insurers such as billionaire John Paulson-invested PMI Group stand to gain as their bigger federal rival, the FHA, raises its premium rates to boost its cash cushion.

U.S. commercial property landlords cut rent and offered concessions to lure tenants as vacancies remained high, the National Association of Realtors reported in a quarterly property survey released on Thursday.

The number of U.S. homes headed for foreclosure fell in the second quarter for the first time since the housing slump began in 2006, but improvements may be fleeting as the number of newly delinquent homeowners rose, a banking group said on Wednesday.

New U.S. single-family home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, according to government reports on Wednesday that heightened fears the economy was at risk of a new downturn.

Prices of U.S. single-family homes fell for the first time in four months in June, and by an adjusted 1.7 percent from a year earlier, the Federal Housing Finance Agency said on Wednesday.

Mortgage applications rose last week as record low rates lifted demand for home refinancing loans to its highest level in over 15 months, a development that could provide a much-needed jolt to the economy.

Units Sold (in mlns) July June June Prev May July09 Total Existing Homes 3.83 5.26 5.37 5.66 5.14

The cost of insuring the debt of U.S. homebuilders rose on Tuesday after sales of previously owned homes dropped more steeply than expected in July to their lowers pace in 15 years.

Sales of previously owned U.S. homes took a record drop in July to their lowest pace in 15 years, suggesting further loss of momentum in the economic recovery.

Amid the United States housing market's faltering recovery, investors are bracing for more bad news from Toll Brothers Inc and for housing in general when the biggest luxury builder reports quarterly earnings on Wednesday.

A mortgage servicing company's claims that would push responsibility for faulty mortgage loans onto Wall Street titan Morgan Stanley were dismissed by a Delaware court, according to a court filing.

Nearly half of homeowners getting help through the Obama administration's premier housing rescue program have dropped out through July as many failed to document their eligibility, the U.S. Treasury said on Friday.

The Federal Reserve's balance sheet shrank in the latest week, partly due to a decline in its holdings of mortgage-related securities, Fed data released on Thursday showed.

As mortgage delinquencies climb near historic highs, Wall Street is finding new ways to make hay with the assets.

U.S. mortgage rates fell in the past week to the latest in a series of record lows amid concerns about the state of the U.S. economy, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.