Leaky roofs infect L.A. real estate

It's pouring rain outside and the city has gone to hell in a hand basket. Fender benders abound. Traffic is stopped for miles. Rocks slide down hillsides, leaving little piles of mud everywhere. Water comes up over the curbs and it looks like Florida during the last hurricane.  more...

Real estate: The week ahead

• The Mortgage Bankers Association will hold its annual conference Oct. 24-27, at the Moscone Center in San Francisco. The event features leaders from Fannie Mae, Freddie Mac and top U.S. regulatory agencies, as well as breakout panel discussions and a tradeshow.

• Inman News will host an audio conference on Oct. 28 at 11 a.m. PST.  more...

Adjustable-rate real estate loan popularity climbs

Nearly a third of mortgage applicants who shop online chose an adjustable-rate mortgage between February and September of this year, according to the latest Bankrate consumer focus survey.

The survey showed that 31.9 percent of mortgage applicants received an ARM during the latest survey period, compared with 24.1 percent for the December 2003 to March 2004 survey period as well as the August to November 2003 survey period.

The latest survey involved 6,982 consumer respondents who were looking for mortgage lenders and agreed to answer questions while visiting the mortgage pa  more...

Radian's net income up 7 percent

Radian Group's third-quarter net income was $122.2 million, or $1.31 per share, the company reported this week. The income represented a 7 percent increase from the same quarter the previous year, when Radian earned a net income of $114 million, or $1.20 per share.

The company had third quarter revenues of $377.3 million, up 8 percent from the $349 million the same time a year ago.

"We're pleased to report a record quarter for Radian," chairman and CEO Frank P. Filipps said in a statement.  more...

Homestore's RentNet names new president

RentNet, operated by Homestore, today named its new president, Maria Pietroforte, a 20-year veteran of the multifamily housing industry.

RentNet provides managers and owners with access to an online audience via its network of partners. The company is the exclusive apartment listings partner for AOL and MSN, and the exclusive national listings provider for Yahoo!'s "Featured Listings" section.

Most recently, Pietroforte served as president of KSI Management Corp., one of Greater Washington D.C.'s largest developers.  more...

Overnight mortgage rates fall

Long-term mortgage interest rates were slightly lower Thursday, and the benchmark 10-year Treasury bond yield was up slightly at 4 percent.

The 30-year fixed-rate average slipped to 5.25 percent, and the 15-year fixed-rate fell to 4.65 percent. The 1-year adjustable was unchanged at 3.21 percent.

The 30-year Treasury bond yield remained at 4.77 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states.  more...