Housing affordability slips for fourth consecutive quarter

Nationwide housing affordability slipped for a fourth consecutive quarter to its lowest level yet, according to the National Association of Home Builders'/Wells Fargo Housing Opportunity Index released today.

"The latest HOI shows that only 41 percent of new and existing homes that were sold during the final quarter of 2005 were affordable to families earning the national median income," said David Pressly, a home builder from Statesville, N.C.

That index level is down from 43.2 percent of homes s  more...

Cendant real estate services division to become Realogy

The Cendant Real Estate Services Division, which is spinning off from Cendant Corp., will operate as a standalone company under the name Realogy Corp., the publicly traded company said today.

The name change will take effect upon the completion of its spin-off from Cendant Corp., anticipated during the second quarter of 2006.

"The name Realogy communicates our rigorous approach to the real estate business," said Richard A.  more...

Real estate rates take a breather from climb

Mortgage rates this week eased from their four-week ascent, as inflation became less of a concern to investors, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.26 percent for the week ended today, down from last week's average of 6.28 percent. The average for the 15-year fixed-rate mortgage is 5.89 percent, down from last week's average of 5.91 percent.  more...

Fannie Mae investigation report: No news is good news

Fannie Mae has already disclosed the accounting problems that caused its nearly $11 billion accounting scandal, none of its current management knowingly participated in improper behavior, and necessary improvements have been made or are underway, a long-awaited report on the mortgage giant revealed today.

The 2,652-page report from former New Hampshire Republican Sen.  more...

Job growth 'not showing much improvement'

The Conference Board Help-Wanted Advertising Index, a key measure of job offerings in major newspapers across America, dipped one point in January to 37, and was down from 42 one year ago.

In the last three months, help-wanted advertising increased in five of the nine U.S. regions. Increases occurred in the Middle Atlantic (5.8 percent), South Atlantic (4.2 percent), New England (4 percent), East South Central (2.5 percent) and East North Central (2.2 percent) regions. The largest decline occurred in the Mountain (-23.6 percent) region.  more...

Austin real estate posts strong January

Home sales and prices in the Austin, Texas, area posted double-digit gains in January from a year ago, according to the latest report from the Austin Board of Realtors.

Single-family home sales totaled 1,556 last month, a 16 percent increase from January 2005.  more...

Overnight real estate rates hold steady

Long-term mortgage interest rates were flat Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.52 percent.

The 30-year fixed-rate average held at 5.81 percent, and the 15-year fixed-rate slipped to 5.45 percent. The 1-year adjustable was up at 4.63 percent.

The 30-year Treasury bond yield dropped to 4.48 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...