Banking

Report: Calif. Housing Market Slowing Dramatically 

Sales of existing single-family homes fell 23 percent during 2006 in California, according to a report released late Tuesday by the California Association of Realtors. The survey, which examined trends in buyer and seller behavior during 2006, found that nearly 43 percent of borrowers in 2006 used a second mortgage to finance their purchases, more than triple the amount reported in 2001 and the highest percentage since 1982.