June 21, 2011 Housing Market News Updates

• Fannie Mae trims back its forecast for housing recovery, predicting slower sales than expected and a drop in home construction, based on weak economic reports.  Full Story…
• The feds file $800 million law suit against J.P. Morgan and RBS over mortgage backed securities.  Full Story…
• Sales of existing homes fall to six-month low, and prices decline by 4.6%.  Full Story…
• Investors have to dig deep for cash with little credit available for housing purchases.  Full Story…