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      US homes sales 'decline in July'


      'restoring confidence' the government is bailing out freddie mac and fannie mae, which together underwrite nearly half of the outstanding mortgages in the us .
      freddie mac and fannie mae do not directly lend to us homeowners, but play a vital role in the us mortgage market by buying home loans from approved lenders and then selling them on to investors .
      the levels of pending us homes sales are now 6.8% lower than at the same time latest year, added the national association of realtors .
      pending sales of us homes declined more than expected in july, as the housing market continues two struggle, the main us estate agency trade body has said .
      Generated 2008-9-11_17:33





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