Cendant keeps options open for future of Realogy

He did not rule out the potential for a post-spin-off private sale of the company's real estate segment, which re-branded this year as Realogy, or other business segments that the company plans to spin-off as separate companies.  more...

Real estate rates climb for fifth week

Mortgage rates were up for the fifth straight week, boosted in part by strength in existing-home sales and the economy, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage grew to an average 6.58 percent for the week ended today, up from last week's average of 6.53 percent. The 30-year fixed has not been higher since the week ending June 20, 2002, when it averaged 6.63 percent.

The average for the 15-year fixed-rate mortgage this week is 6.21 percent, up from last week's average of 6.17 percent.  more...

'Everything old is new again'

CHARLOTTE, N.C. – You've probably heard the term "halfback" in football – an offensive player who lines the backfield and carries the ball on run plays.  more...

Countrywide earnings down, outlook up

Countrywide, the largest U.S. mortgage lender, this morning said its net income fell slightly, but revised its forecast for its earnings this year.

The Calabasas, Calif.-based company reported a profit of $684 million, or $1.10 a share, for the first quarter, down from $689 million, or $1.13 a share, for the same time period in 2005.

Countrywide said it was challenged by the continuation of a relatively flat yield curve earlier this year, as overall interest rates continued to rise.

Revenue rose 18 percent to $2.84 billion, topping estimates for $2.5 billion.  more...

Fidelity reports profit drop, restructuring

Fidelity National Financial this week announced plans to restructure along with an earnings report detailing a first-quarter-profit drop of 76 percent from a year ago, when it recorded a large gain from selling a stake in an affiliate.

Jacksonville, Fla.-based Fidelity said this morning that its board of directors approved a plan that will restructure its relationship with its Fidelity National Information and Fidelity National Trust units.  more...

Energy prices threaten U.S. labor market

The Conference Board today announced that its Help-Wanted Advertising Index, a key measure of job offerings in major newspapers across America, dipped one point in March to 38.

In the last three months, help-wanted advertising declined in five of the nine U.S. regions. Largest declines occurred in the East South Central (-13.1 percent), West North Central (-6.7 percent) and East North Central (-5.6 percent) regions.  more...

Houston real estate breaks more records

Home sales in Houston, Texas, grew for the sixth straight month in March, and sales and prices for single-family houses broke March records, the Houston Association of Realtors reported.

Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 8,015 in March, up 22.4 percent from a year ago.

Total single-family home sales set a March record at 6,542, up 22 percent from the year-ago level of 5,363 sales.  more...

Overnight real estate rates rise again

Long-term mortgage interest rates were up Wednesday, and the benchmark 10-year Treasury bond yield jumped to 5.11 percent.

The 30-year fixed-rate average increased to 6.15 percent, and the 15-year fixed-rate gained to 5.81 percent. The 1-year adjustable was up at 5.2 percent.

The 30-year Treasury bond yield shot up to 5.18 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...