Weekly Roundup, October 14

No new housing stats from Antelope Valley, as I was hoping for last week.

Foreclosures drop, but they're nearly double 2006Home foreclosure filings dropped 8 percent in September, nearly twice what they were a year ago.

House OKs $1 billion-a-year housing fundThe House of Representatives approved legislation Wednesday that would siphon off up to $1 billion a year from Fannie Mae, Freddie Mac and the Federal Housing Administration to build affordable rental housing and provide down-payment assistance for first-time home buyers.

C.A.R.'s California Housing Market Forecast for 2008:Statewide median price down, pace of sales decline moderates after tumultuous 2007 Home prices throughout most of California will post modest declines next year while sales of existing homes will stabilize from the precipitous decrease experienced in 2007, according to C.A.R.'s "2008 California Housing Market Forecast" released today.

C.A.R. reports sales decrease 27.8 percent in August, entry-level median home price falls 5. 1 percent Home sales decreased 27.8 percent in August in California compared with the same period a year ago, while the median price of an existing home increased 2 percent.

USA Today: Home builders' foundations shift with shaky market10/09/2007Home builders are bracing for what many predict will turn out to be a more painful market correction than the real estate downturn of the 1980s.

Associated Press: Foreclosures drop, but they're nearly double 200610/10/2007Home foreclosure filings fell 8 percent in September, but are still at levels nearly twice what they were a year ago.

September foreclosures fall
10:06am: Mortgage delinquencies slip 8% nationwide; Sun Belt, Rust Belt states continue to dominate top foreclosure rates, according to a monthly survey.

Dems OK on Fannie, Freddie caps
Oct 11: The move would allow the government-sponsored mortgage companies to increase debt holdings for six months.

Mortgage rates edge up
Oct 11: Employment figures push fixed 30-year rate up to 6.4%, according to a weekly report.

Sources: CAR, SRAR, AP, CNN, USA Today.