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WASHINGTON (AP) — The government said that housing construction rose in August to the highest level in nine months as a surge in apartment building offset a decline in single-family activity. Home building has increased nearly 25 percent from a record low in April. The biggest gains in August were in the Northeast.

Mortgage Applications Jump as Housing Rises

Housing stocks could see heavy trading today following a report that mortgage applications surged last week. The Mortgage Bankers Association said its seasonally adjusted index of applications, including refinances and new mortgages, jumped 17% to 648.3 for the week ended September 4, hitting its highest level since the end of May.

Fed Prepares to End Mortgage Program

The economy has "picked up" in recent weeks, Federal Reserve policymakers said Wednesday, as they indicated that the end is within sight for a massive program to support mortgage lending.

FHA Will Tighten Credit Standards

The Federal Housing Administration, which insures lenders against losses on home mortgages, announced Friday that it would tighten credit requirements but said it has enough reserves to handle expected claims.FHA Commissioner David Stevens sees 'no taxpayer bailout' coming. "There will be no taxpayer bailout," FHA Commissioner David Stevens said.

Will the $8,000 First-Time Home Buyer Tax Credit Be Extended?

As we mark the one-year anniversary of the financial meltdown's most gut-churning period—Uncle Sam's takeover of Fannie Mae and Freddie Mac, the downfall of Lehman Brothers, the hasty sale of Merrill Lynch—signs of optimism in the housing market are everywhere. Existing home sales rose in July for the fourth time in as many months, something the market hasn't seen since 2004.

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