New metrics focus on how neighborhoods affect home values

ENeighborhoods has launched a new division to offer mortgage professionals neighborhood valuation metrics, focusing on how neighborhoods affect home valuations, the company said today.

The company's new Strategic Mortgage Solutions division will debut new metrics products during the Mortgage Bankers Association's technology conference in San Diego next week.

According to the National Association of Realtors, 68 percent of home buyers indicate the neighborhood quality as the most critical factor in choosing their home,  more...

Toronto real estate continues growth

In the first half of March, the Toronto-area resale housing market saw a modest gain in sales over the same period a year ago, the Toronto Real Estate Board reported.

Realtors documented 3,755 sales during the first half of this month, up 1 percent from mid-March of last year, and up 14 percent from mid-February's sales total of 3,301.

"Unlike last year, which started slowly but ended as the best year on record, 2006 has started with a bang," said TREB President John Meehan.  more...

Mississippians plead guilty in real estate fraud

Two people accused in a mortgage fraud scheme in the Hattiesburg and Laurel areas of Mississippi pleaded guilty to federal charges on Friday, Associated Press reported.

Michael T. Cox, of the Oak Grove, Miss., area, and Jacquelyn B. Mosley, of Hattiesburg, Miss., each pleaded guilty on Friday for their roles in a mortgage conspiracy, according to the U.S.  more...

Real estate loan fraud epidemic strikes Canada

Mortgage fraud has become a billion-dollar industry in Canada and a growing concern to the real estate and financial sectors, CanWest News Service reported Friday.

Although the monetary impact is difficult to quantify, such organizations as the Quebec Association of Real Estate Agents and Brokers suggest mortgage fraud amounts to be an estimated $1.5 billion a year across the country, reports said.

The Real Estate Council of Alberta estimates there was about $275 million in fraudulent mortgage loans in Alberta in the fiscal year 2001-2002 based on transactions investi  more...

Real estate company sets sights on women

Real Living has unveiled a new advertising campaign to target one of the fastest-growing segments of home buyers – women.

The independent brokerage company said it will begin airing television, radio and Web advertising spots to consumers this month. The campaign features four different consumer types -- first-time buyers (newlyweds), growing-family buyer, practiced purchaser and empty-nester -- and their testimonials, which are based on real-life stories Real Living has received.  more...

Real estate price appreciation you can bet on

The CBOE Futures Exchange, a subsidiary of the Chicago Board Options Exchange Inc., plans to launch futures contracts based upon National Association of Realtors data on median existing-home prices.

Through a licensing agreement with the Realtor trade group, CFE has created five new futures contracts designed to track the median price of existing-home sales nationally and in four distinct regions within the United States, accord  more...

Two plead guilty to stealing Hurricane Katrina funds

Two Georgia men pleaded guilty in federal district court last week to stealing federal emergency aid funds that were intended for Hurricane Katrina victims, officials said.

Henry P. Edwards, 41, of Atlanta, and Dwight M. Thomas, 21, of Doraville, each pleaded guilty to counts of mail fraud, and Edwards also pleaded guilty to filing false claims and theft of FEMA funds, according to a statement from the U.S.  more...

Economy ticks lower in February

The U.S. leading index, a key barometer of economic conditions, decreased 0.2 percent in February, ending a four-month uptrend, the Conference Board reported today.

The leading index now stands at 139. Based on revised data, this index increased 0.5 percent in January and increased 0.3 percent in December. During the six-month span through February, the leading index increased 1.5 percent, with eight out of 10 components advancing.

Five of the 10 indicators that make up the leading index increased in February.  more...

Overnight real estate rates mostly flat

Long-term mortgage interest rates held steady Friday, and the benchmark 10-year Treasury bond yield rose to 4.67 percent.

The 30-year fixed-rate average stayed at 5.88 percent, and the 15-year fixed-rate sank slightly to 5.55 percent. The 1-year adjustable was down at 4.88 percent.

The 30-year Treasury bond yield gained to 4.72 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...