Local home prices fell for a sixth straight month, according to recent data, one sign that sellers have fully embraced the idea of pricing lower to sell.
Interest rates on short-term Treasury bills rose in Monday's auction to the highest levels since February.
Broad damage in the mortgage industry was in full view Monday as a number of companies posted dismal first-quarter earnings, but there were also some hope that the worst of the housing crisis is over.
Major provisions of a House-passed housing rescue bill aimed at heading off foreclosures and stabilizing the market.