Mortgage rates dropped for a third straight week, reflecting the impact the weakening economy is having on financial markets.

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Mortgage finance companies Fannie Mae and Freddie Mac are suspending foreclosures for about 16,000 U.S. households during the holiday season.

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A government report says construction of new homes plunged 4.5 percent last month to the lowest level on government records.

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A government report says construction of new homes plunged 4.5 percent last month to the lowest level on government records.

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The National Association of Home Builders says its housing market index plunged to another record low this month.

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Publicly breaking with the Bush administration, the FDIC proposed to use $24 billion in government funding to help 1.5 million American households avoid foreclosure.

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Treasury may need to give billions to mortgage giants and the tab could top the $200 billion set aside.

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Mortgage rates dropped for a second straight week, reflecting the impact the weakening economy is having on financial markets.

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The 2009 outlook for the commercial real estate sector has turned suddenly bleak. Rents and vacancies at shopping centers and office buildings will suffer the most.

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The number of homeowners caught in the wave of foreclosures in October grew 25 percent nationally over the same month in 2007, data released Thursday showed.

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