Permits for new home builds in the US tumbled to a 14-year low last month, official data showed today, as confidence in the weakening US housing market spiralled lower.

The number of home building projects that were started in November also took a big hit, in yet another sign ...   more »

The Federal Reserve has cut US interest rates from 4.5% to 4.25% to help steer the world's largest economy through a housing slump and credit woes.

It is the third rate cut in the US in as many months, leaving US rates 1% lower than their August peak.

A downward ...   more »