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Home Business

Business briefs: Record low for index of certain home sales (Sarasota Herald-Tribune)
WASHINGTON -- An index that forecasts near-term home sales fell in August to a record low as would-be home buyers had difficulty getting mortgages.The National Association of Realtors said its seasonally adjusted index of pending sales for existing homes fell 6.5 percent from July and 21.5 percent from a year ago. August's reading of 85.

Australia's Westpac to buy Rams business (FT.com via Yahoo! News)
Rams Home Loans, the Sydney-based mortgage lender badly hit by the US subprime crisis, on Tuesday effectively gave up on its efforts to get back on track, agreeing to sell the best parts of its business to Westpac (NYSE:WBK).

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