Consumer confidence recovered more than expected in August as fears over inflation eased, while financial markets combed through housing data for reasons to hope the worst is over for the moribund sector.

(RTTNews) - Wednesday, the UK's largest homebuilder Taylor Wimpey said the current operating condition in the UK housing market is very challenging. The company does not anticipate any recovery in the short term and expects conditions to possibly remain tough in the UK as well as US housing markets.

Back in February, Congress passed into law a quick fix for the housing market. Unfortunately, it hasn't done much good.

New housing reports out Tuesday show some of the first glimmers of stabilization in the troubled housing market, but economists say there are still significant risks that could undermine a recovery.

The Federal Reserve must be "very vigilant" amid strained financial markets while exercising patience over interest rates as it waits for inflation to ease, a top Fed policy-maker said on Wednesday.

NEW YORK: US consumer confidence recovered more than expected in August as worries over inflation eased, while financial markets combed through a slew of housing data for reasons to hope the worst is over for the moribund sector.

Aug. 27 (Bloomberg) -- BB&T Corp. 's John Allison , the chief executive officer who bought 60 rivals since 1989, said his bank may buy more community lenders after the housing market stabilizes next year and called Countrywide Financial Corp.'s exit from the business ``good for the world.''

Asian markets retreated Tuesday, with banking stocks such as Sumitomo Mitsui Financial Group and HSBC Holdings pacing losses, as fears about the U.S. financial and housing sectors revisited the region after an overnight sell-off on Wall Street reflected such concerns.

U.S. markets looked set to rebound Tuesday from yesterday’s selloff, ahead of readings on the housing market and consumer confidence. Here at home, investors digested a 21% drop in quarterly profit at Bank of Montreal.

Private landlords were today called on to play a greater role in meeting housing needs by the Scottish Government. But housing minister Stewart Maxwell warned that standards in letting practice must continue to improve.