Toll Brothers, a luxury homebuilder, has posted a smaller loss of $40.8mn, or $0.25 per share, for its first quarter that ended January 31, 2010; this compares to a loss of $88.9mn, or $0.55 a share, a year earlier. The first quarter saw a $33.4m in pre-tax write-downs, including a $22.5m write-down on account of [...]

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Freddie Mac has reported that delinquency rate on its single-family loans rose to 4.03% in January, from 3.87% in December; a year ago, the delinquency rate was 1.98%. In volume terms, Freddie’s total mortgage portfolio dropped at an annualized rate of 1.7% in January. The agency’s refinance-loan purchase and guarantee volume was $22.6 bn in [...]

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The Oracle of Omaha, in his annual letter to shareholders of Berkshire Hathaway Inc., has written, “Within a year or so, residential housing problems should largely be behind us. Prices will remain far below ‘bubble’ levels, of course, but for every seller or lender hurt by this there will be a buyer who benefits.” The [...]

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