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Reuters - Hedge-fund manager Doug Kass, who successfully shorted U.S. equities this year including shares of Fannie Mae and Freddie Mac , is now buying U.S. stocks on the belief that they have hit bottom.
Reuters - Toll Brothers Inc , the largest U.S. luxury home builder, said its quarterly loss narrowed slightly as it wrote down less inventory, and its shares rose sharply as homebuilders extended a rally spurred by improved mortgage rates.
AP - House prices in Britain fell at their fastest rate in 16 years during November, the country's biggest mortgage lender said Thursday, reinforcing market expectations that the Bank of England will later cut interest rates by at least another percentage point.
Reuters - The Treasury Department is developing a plan to try to reduce mortgage rates on home loans to 4.5 percent on typical mortgages by expanding its purchases of mortgage backed securities, sources familiar with the plan said on Wednesday.
AP - Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market.
AP - Federal regulators on Wednesday adopted new rules designed to stem conflicts of interest and provide more transparency for Wall Street's credit-rating industry, widely faulted for its role in the subprime mortgage debacle and ensuing credit crisis.
