Birmingham points nation toward recovery

The East South Central region of the country scored the biggest gains in consumer confidence last year, according to an analysis released today by The Conference Board.

This area, which includes Kentucky, Tennessee, Alabama and Mississippi, also registered solid increases in help-wanted job advertising in such key cities as Birmingham, Ala., and Knoxville, Louisville, Memphis and Nashville, Tenn.  more...

Cendant Mobility posts record results

The Cendant Mobility broker network, a unit of Cendant Corp.'s real estate services division, reported a record 20,440 closed broker referrals in 2003, an increase of 13 percent compared with the previous year, when the network reported a then all-time high of 18,102 closed broker referrals. Closed broker referrals originate from network brokers and are culminated by a transaction of funds, documents and property.

The network also set a record last year for outgoing referrals, which totaled 62,858 compared with 54,069 in the previous year, an increase of 16 percent.  more...

Freddie finances house every 6 seconds

Mortgage giant Freddie Mac financed more than 5.5 million houses or approximately one every six seconds last year, the McLean, Va., mortgage giant reported today.

Approximately 51 percent of the corporation's purchases served low- and moderate-income families. That figure exceeded the affordable housing goals established by the U.S. Department of Housing and Urban Development, according to Freddie Mac. The corporate has met or exceeded those goals every year since the goals were set in 1996.  more...

Real estate sales grow in Florida

A total of 45,768 existing single-family homes were sold in Florida in the fourth quarter of 2003, a 12 percent increase compared with the final-quarter figure of 40,901 homes in 2002, according to the Florida Association of Realtors.

The association attributed the results to a strong housing market along with rising consumer spending, exports and business purchases that boosted the economy in Florida and nationwide during the three-month period.

The median sales price in Florida rose 11 percent to $167,700. A year ago the median sales prices was $150,500.  more...

Overnight interest rates continue slide

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield decreased slightly to 4.04 percent.

The 30-year fixed-rate average slipped to 5.26 percent, and the 15-year fixed-rate decreased to 4.54 percent. The 1-year adjustable was down at 3.24 percent.

The 30-year Treasury bond yield decreased to 4.92 percent. Rates are current as of 7:15 p.m. Eastern Standard Time.  more...