Reuters - Weyerhaeuser Co , a major U.S. forest products company, posted a sharp fall in quarterly earnings on Wednesday but exceeded expectations as strength in its fibers and packaging units partially offset weak demand for its wood products.

AP - The Federal Reserve sliced an important interest rate Wednesday — its second reduction in the last six weeks — to help the economy survive the strains of a deepening housing slump that is likely to crimp growth in the coming months.

AFP - US existing home sales fell 2.2 percent in December as the beleaguered housing market saw no relief from its woes, data releases Thursday showed.

Reuters - Sales of new U.S. homes fell in November to the lowest rate since 1995, but business activity perked up this month, according to reports on Friday that showed pockets of strength in the economy despite a housing sector meltdown.

Reuters - Fannie Mae , the largest U.S. mortgage finance company, said on Friday its third-quarter net loss doubled from last year as slumping home prices and a credit squeeze drove down values of mortgage securities.

AP - A persistently bleak housing environment forced The Home Depot Inc. to diminish its financial outlook Tuesday as the nation's largest home improvement store chain posted a 26.8 percent drop in third-quarter profits.