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It shows sign of global asset leveraging commences........ EQUITY investment is on the bright prospect towards the next decades!!!
smartrader ( Date: 27-Jul-2009 22:44) Posted:
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WASHINGTON (Reuters) - Sales of new single-family homes in the United States rose more than expected in June, while the inventory of homes for sale fell to a more than 11-year low, government data showed on Monday.
Sales rose to an annual rate of 384,000 in June, the Commerce Department reported, up 11 percent from May, while the number of new homes still for sale fell to 281,000, the lowest since February 1998.
"The data will reinforce the developing thinking that housing market has bottomed and that the economy has stabilized and will grow in the third quarter," said Jim Awad, managing director at Zephyr Management in New York.
"In the cocktail of the market, it will be viewed positively and will add credence to the bulls, who think we will have a rebound in the markets going forward," he said.
Despite the encouraging data, the median sale price for a new home fell to $206,200, down 5.8 percent from the previous month, and down 12 percent from a year ago
July 27 (Reuters) - MFA Financial Inc (MFA.N) posted a quarterly profit that beat analyst expectations by a penny, helped by a jump in its net interest income.
The mortgage real estate investment trust reported second-quarter net income of $67.1 million, or 30 cents a share, compared with $33 million, or 20 cents a share, last year.
Excluding one-time items, MFA Financial earned 27 cents a share.
Analysts on average had expected the company to earn 26 cents a share, excluding items, according to Reuters Estimates.
Net interest income rose 56 percent to $68.7 million.
Shares of the company were up 18 cents at $7.28 Monday on the New York Stock Exchange. (Reporting by Abhinav Sharma in Bangalore; Editing by Aradhana Aravindan)