Philadelphia landlords face racial discrimination charges

The U.S.  more...

Toronto real estate sales pick up pace

With 4,587 closed transactions in January, existing-home sales in Toronto, Canada, grew 10 percent from a year earlier and marked the second-best January on record, the Toronto Real Estate Board announced today.

There were 4,153 home sales recorded in January 2005, TREB reported.

"Overall, this is a very encouraging performance for this time of year," said TREB President John Meehan.  more...

Bush proposes new Fannie, Freddie regulator

The Bush administration on Monday said Congress should create a new regulator for Fannie Mae and Freddie Mac and direct it to cut the $1.4 trillion investment portfolios held by the government-sponsored enterprises, media reports said.

In an analysis accompanying Bush's budget proposal, the White House reiterated its view that the portfolios of loans and securities held by the mortgage giants pose a risk to the broader financial system, according to reports.

The administration said legislation to overhaul supervision of Fannie Mae, Freddie Mac and the Federal Home Loan Bank  more...

Fed governor warns about nontraditional real estate loans

The Federal Reserve Bank is concerned that U.S. banks' current risk-management techniques may not be sufficient for the level of risk in nontraditional mortgages such as interest-only mortgages, a governor of the board said last week.

Speaking at the Financial Services Institute in Washington, D.C., Feb.  more...

Mortgage delinquency rates soar in Gulf region

The latest "Katrina Index," a measure of economic conditions and reconstruction activity in storm-damaged Gulf Coast communities, notes that about 750,000 households remain displaced by Hurricane Katrina, and Louisiana has lost more than 100,000 people in its labor force.

Created by the Brookings Institute, a nonprofit public policy group, the index launched in December.

"Demand for essential services in New Orleans con  more...

Freddie Mac, banking group extend marketing partnership

America's Community Bankers and Freddie Mac announced today that they have agreed to renew through 2009 an alliance agreement that is intended to help bankers compete for borrowers.

First announced in February 2002, the ACB-Freddie Mac alliance package provides member institutions with a suite of benefits including secondary marketing programs, customized training, preferential access to third-party vendors and Freddie Mac's proprietary mortgage technology and m  more...

Coldwell builds East Coast real estate presence

Coldwell Banker Residential Brokerage in New Jersey and Rockland County, N.Y., recently announced that it has acquired the assets of GFM Realty Group Inc. and GFM Group Inc., an entity that operates as Murphy Realty Preferred Homes in Rumson, N.J. The firm will now operate under the banner of Coldwell Banker Residential Brokerage.

Murphy Realty Preferred Homes operates five offices in Red Bank, Long Branch, Rumson, Lincroft and Sea Girt.  more...

Overnight real estate rates advance

Long-term mortgage interest rates were higher Friday, and the benchmark 10-year Treasury bond yield gained to 4.53 percent.

The 30-year fixed-rate average edged up to 5.83 percent, and the 15-year fixed-rate increased to 5.43 percent. The 1-year adjustable climbed to 4.55 percent.

The 30-year Treasury bond yield slipped slightly to 4.61 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...

Redfin: Click here to buy a home

A home-search Web site has added a feature that allows prospective buyers to submit a purchase offer with the click of a button.

Seattle-based real estate brokerage company Redfin announced that the new online offer system, called Redfin Direct, is now available in the Seattle market and will soon be offered in additional markets as the company expands.  more...