Nashville real estate sales, prices jump

Home sales in the Greater Nashville, Tenn., area posted double-digit annual gains in January, as condo prices also soared, the Greater Nashville Association of Realtors reported.

There were 2,371 home closings reported for the month of January, up 12 percent from the 2,111 closings reported for the same period last year.

"What a way to start the year! Considering that 2005 was our best year ever for home sales, this news is even more encouraging," said GNAR President Christie Wilson.  more...

New real estate foreclosure hotline launches

A nonprofit agency formed in 2004 through a $20 million contribution from a General Motors Acceptance Corp.  more...

Fannie Mae exec salaries, bonuses set

Daniel H. Mudd, chief executive of Fannie Mae, isn't getting a raise this year, but he is getting a bonus, the company reported Wednesday.

President and CEO Daniel Mudd will continue to get his base salary of $950,000 in 2006 and he was granted a cash bonus of $2.59 million for his 2005 performance, Fannie Mae said.

Mudd was also awarded an estimated $8 million in restricted stock as a "2005 Variable Long-Term Incentive Award," according to the filing with the U.S.  more...

Uptick in overnight real estate rates

Long-term mortgage interest rates were up Thursday, and the benchmark 10-year Treasury bond yield fell to 4.54 percent.

The 30-year fixed-rate average inched up to 5.82 percent, and the 15-year fixed-rate gained to 5.44 percent. The 1-year adjustable was unchanged at 4.55 percent.

The 30-year Treasury bond yield decreased to 4.65 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...