California real estate values don't disappoint

The median price of an existing California home in September increased 17.3 percent from a year ago, while sales grew 3.9 percent, the California Association of Realtors reported today.

The median price of an existing, single-family detached home in California was $543,980, a 17.3 percent increase over the revised $463,630 median for September 2004, C.A.R. reported. The September 2005 median price decreased 4.4 percent compared with August's revised $568,730 median price.  more...

Real estate loan originations up

Mortgage originations increased in the first half of 2005, and the demand for interest-only, option adjustable-rate and Alt-A mortgage products also were on the rise, according to an industry report released today.

From the last half of 2004 to the first half of 2005, first mortgage origination volume rose, according to the Mortgage Bankers Association's Midyear 2005 Mortgage Originations Survey, which covers single-family mortgage originations during the first and second quarters of 2005.  more...

Schools, communities top real estate search criteria

Schools and community information are the most popular neighborhood search criteria for consumers searching for homes, and Seattle, Dallas and Los Angeles topped the list of most searched cities, according to early data from HomePages, a new real estate portal from HouseValues.  more...

A la mode partners with LoanBright

Real estate and mortgage industry software provider a la mode today announced its plan to integrate the pay-per-click advertising and mortgage lead generation services from LoanBright into its Mortgage XSites Web sites and XSellerate automated marketing suite.

Mortgage XSites and XSellerate users, particularly mortgage brokers, will be able to subscribe to LoanBright's lead generation services.  more...

Real estate gains flourish in Florida

Florida's real estate market continued to improve in September, as existing-home sales and the median home price both posted hefty gains, according to the Florida Association of Realtors.  more...

Ellie Mae launches new Encompass processing network

Ellie Mae, a software provider for the mortgage industry, has launched its Encompass Processing Network, which will enable Encompass users to outsource loan-processing services from within Encompass to reduce mortgage processing costs and increase efficiency, the company said today.

The Encompass Processing Network provides mortgage originators instant access to domestic and offshore loan-processing services.  more...

National real estate foreclosures down

National real estate foreclosures decreased 9.2 percent in September from the previous month, continuing a two-month decline, according to a report released today by RealtyTrac, an online marketplace for foreclosures.

A total of 68,646 properties nationwide entered some stage of foreclosure in September, the report shows.  more...

Consumer confidence takes another hit

The Conference Board today announced that its consumer confidence index, which had plummeted in September, declined again in October. The index now stands at 85, down from 87.5 in September.

The present situation index declined to 108.2 from 110.4. The expectations index decreased to 69.5 from 72.3 last month.  more...

Existing-home sales get boost from Katrina

Sales of existing homes held at the second-highest pace on record in September, with sales surging in some areas following Hurricane Katrina, according to the National Association of Realtors.

Total existing-home sales – including single-family, townhomes, condominiums and co-ops – were at a seasonally adjusted annual rate1 of 7.28 million units in September, unchanged from August. Sales were 7.2 percent above the 6.79 million-unit level in September 2004, and were second only to a rate of 7.35 million in June of this year.  more...

Overnight real estate rates steady

Long-term mortgage interest rates calmed Monday and the benchmark 10-year Treasury bond yield increased to 4.45 percent.

The 30-year fixed-rate average remained at 5.62 percent, and the 15-year fixed-rate held at 5.22 percent. The 1-year adjustable was down at 4.15 percent.

The 30-year Treasury bond yield climbed to 4.66 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...