S.F. Bay Area real estate sales down again

San Francisco Bay Area home sales remained at the lowest level in five years and monthly home sales were down, year-over-year, for the 11th straight month, a real estate information service reported today.

A total of 6,206 new and resale houses and condos were sold in the nine-county Bay Area region in February, which was up 3.4 percent since January but down 16.8 percent compared to February 2005, according to DataQuick Information Systems.

Normally, sales decline from January to February.  more...

Real estate mogul turns to mortgage

If Donald Trump launched a mortgage venture, you would expect it to be named Trump Mortgage.

He did...and it is.

Trump Mortgage LLC, based in the Trump Building at 40 Wall St. in New York, offers residential mortgages, commercial mortgages and home equity loans.  more...

Real estate rates slide on retail news

Long-term mortgage rates fell this week on news that retail sales plummeted in February, making inflation less of a concern, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 6.34 percent for the week ended today, down from last week's average of 6.37 percent. The average for the 15-year fixed loan is 5.98 percent, down from last week's average of 6 percent.  more...

Real estate starts sink in February

Privately owned housing starts in February were at a seasonally adjusted annual rate of about 2.12 million, or 7.9 percent below the revised January estimate and 4.8 percent below the February 2005 rate, the U.S.  more...

Banking group issues tips on fraud protection

After recent FBI warnings that Illinois is a "hot spot" for mortgage fraud, the Illinois Bankers Association has compiled a list of tips and warning signs to help borrowers identify fraud before being duped.

Hundreds of homeowners in Illinois have been victimized by unscrupulous mortgage lenders -- robbing them of their hard-earned money -- and their homes, the group said.  more...

Internet home purchases may not be far off

Thirty-one percent of home buyers in the San Francisco Bay Area believe it is likely that people may consider buying a home on the Internet in the future without ever seeing it in person, according to a survey released today by Prudential California Realty.

The findings demonstrated a shift in attitudes as consumers increasingly utilize the Internet in their home search.

The Prudential California Realty online home buyer survey, conducted in January by Caravan Opinion Research, gauged the attitudes of 300 Northern Californi  more...

First-time home buyer campaign targets minorities

The Federal Housing Administration on Wednesday launched a public education campaign that aims to acquaint low- and moderate-income black and Hispanic home buyers with the FHA brand and the dangers of predatory lending.

The radio- and newspaper-based campaign will target first-time buyers in 16 U.S. markets.  more...

Overnight real estate rates down

Long-term mortgage interest rates continued lower Wednesday, and the benchmark 10-year Treasury bond yield gained to 4.73 percent.

The 30-year fixed-rate average dipped to 5.91 percent, and the 15-year fixed-rate sank to 5.59 percent. The 1-year adjustable was down at 4.88 percent.

The 30-year Treasury bond yield increased to 4.75 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...