By Inman News, Wednesday, October 5, 2005. The percentage of households in California able to afford a median-priced home fell to 14 percent in August, down 4 percentage points from a year ago, according to a report released by the California Association of Realtors today. The association said California's Housing Affordability Index is at its lowest on record since 1989. The minimum household income needed to purchase a median-priced home at $568,890 in California in August was $133,800, based on an average effective mortgage interest rate of 5.87 percent and assuming a 20 percent down payment. The minimum hou more...
By Inman News, Wednesday, October 5, 2005. Long-term mortgage rates increased for the fourth consecutive week as high energy costs continued to spread inflation jitters, according to surveys conducted by Freddie Mac and Bankrate.com. In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 5.98 percent for the week ended today, up from last week's average of 5.91 percent. This is the highest the 30-year fixed has been since March 31 when it averaged 6.04 percent. more...
By Inman News, Wednesday, October 5, 2005. Shorewest, Realtors, a family-owned real estate company in Wisconsin, announced today that it has launched a 24-hour television channel that will promote the company's agents and property listings. The company, founded in 1946, has 22 sales offices and about 1,150 full-time sales associates serving Southeast Wisconsin. In addition to real estate brokerage services, the company offers relocation, mortgage, title and insurance services. more...
By Inman News, Wednesday, October 5, 2005. House-price increases are still recording double-digit annual growth rates in several nations, according to a report by ResearchWorldwide.com, a real estate information company – while the appreciation rate has collapsed in a handful of countries. more...
By Inman News, Wednesday, October 5, 2005. Wolters Kluwer Corporate & Financial Services, a division of Amsterdam-based Wolters Kluwer nv, on Tuesday announced the acquisition of Entyre, a provider of Web-based compliance solutions to the mortgage lending industry. Ann Arbor, Mich.-based Entyre, which provides its loan closing document services to more than 350 mortgage lenders nationwide, has approximately 20 employees in its Ann Arbor office. Terms of the purchase agreement were not released. more...
By Inman News, Wednesday, October 5, 2005. Real estate firms in St. Louis and Boca Grande, Fla., have joined the Sotheby's International Realty network, the company reported today. In addition, the Sotheby's International Realty affiliate for The Bahamas has opened five offices and will provide luxury real estate services for all of the islands comprising this Caribbean nation. more...
By Inman News, Wednesday, October 5, 2005. Although still healthy by historic standards, U.S. home-building metrics should be somewhat less robust during the balance of 2005 and probably into 2006, according to Fitch Ratings. While the U.S. home-building sector remains a powerful stimulant for the U.S. economy so far through this year, with new peaks likely for housing starts and new- and existing-home sales, home refinancing activity has not been as robust this year, the ratings agency said. more...
By Inman News, Wednesday, October 5, 2005. Electronic loan documents can now be transferred quickly and easily to one of the nation's leading residential mortgage loan originators thanks to a new connector created by Advectis, the companies said today. Electronic mortgage document collaboration provider Advectis has developed a connector that enables customers using its BlitzDocs collaboration software to electronically deliver electronic loan folders to Michigan-based Flagstar Bank's imaging systems. more...
By Inman News, Wednesday, October 5, 2005. Long-term mortgage interest rates kept rising Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.35 percent. The 30-year fixed-rate average edged up to 5.53 percent, and the 15-year fixed-rate grew to 5.11 percent. The 1-year adjustable was down at 4.13 percent. The 30-year Treasury bond yield decreased to 4.57 percent. Rates are current as of 7:15 p.m. Eastern Standard Time. more...
By Glenn Roberts Jr., Wednesday, October 5, 2005. A Southern California man alleges in a lawsuit that Cendant Corp.-affiliated real estate companies steered home buyers to purchase disclosure statements from a company that allegedly engaged in unlawful kickback or referral fee practices. The complaint, filed in August, charges that Coldwell Banker and possibly other Cendant affiliates illegally received a portion of fees paid by home buyers to Property I.D., a Los Angeles company that provides disclosure statement services for real estate transactions. more...
By Jessica Swesey, Wednesday, October 5, 2005. Editor's note: After the initial concerns of rescuing people from natural disasters like Hurricane Katrina, the next big question is over the recovery and rebuilding process, which has already begun in Katrina-ravaged areas. In this three-part series, we look back to the rebuilding process after the Oakland Hills fire in Northern California in 1991, Hurricane Andrew in South Florida in 1992, and the terrorist attacks of Sept. 11, 2001, in downtown Manhattan. more...
|
