Toll Brothers Offers 3.99 Percent Mortgage Rate, Housing Permits Plunge

Octavion — Fri, 23 Jan 2009 15:06:00 GMT

Builder Offers 3.99 Percent Rate on Mortgage
January 22, 2009
Wall Street Journal

Toll Brothers just lowered the bar for the home building industry. Horsham, Penn.-based Toll this week started offering a 3.99% fixed mortgage rate for loans $417,000 or below for 30 years with no points, one of — if not the — industry's lowest rates, one well below the national average of just below 5%.

U.S. Housing Starts, Permits Hit Record Lows in December
January 22, 2009
Reuters

New U.S. housing starts and permits tumbled to a record low in December, the Commerce Department said. Housing starts fell 15.5 percent to a seasonally adjusted annual rate of 550,000 units, the lowest on record, from an upwardly revised rate of 651,000 units in November. That was the biggest percentage drop since January 2007, when housing starts fell 16.2 percent.

U.S. House Approves Bill to Restrict Financial-Rescue Funds
January 21, 2009
Bloomberg.com

The U.S. House of Representatives approved conditions for releasing the remaining $350 billion of financial-rescue funds, a symbolic move telling President Barack Obama’s administration how lawmakers want the money spent.

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Toll Brothers Offers 3.99 Percent Mortgage Rate, Housing Permits Plunge