A la mode releases new tool to digitize mortgage process

Real estate technology company a la mode inc. has released a free public beta version of a digital document and e-signature application for mortgage professionals, called SureDocs.

The product is essentially a printer driver that allows users to generate Adobe Acrobat PDF files from other standard file types and to assign e-signature tags to digital documents.  more...

Real estate rates rise for sixth week

Mortgage rates climbed for the sixth straight week, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage inched up to an average 6.59 percent, with an average 0.6 point, for the week ended today, up very slightly from last week's average of 6.58 percent. The 30-year fixed-rate loan has not been higher since the week ending June 20, 2002, when it averaged 6.63 percent.  more...

Kentucky attorney indicted for real estate loan fraud

A federal grand jury has indicted Louisville, Ky., attorney Dean Sexton with conspiracy to defraud multiple mortgage lenders.

The indictment charges that Sexton conspired with other unnamed individuals to cause out-of-state residential mortgage lenders to fund fraudulent loans in excess of $1.5 million, according to a news release from David L. Huber, U.S.  more...

Toronto real estate sees slowdown

Home sales in Toronto, Canada, fell 5 percent in April compared to a year ago, marking the first year-over-year decline in 10 months, the Toronto Real Estate Board reported Wednesday.

In April, 8,361 homes changed hands, down from 8,834 reported a year earlier, according to TREB.

The last month the Toronto market saw a decline in sales was June 2005, when activity dipped 1 percent from the June 2004 level.

Overall year-to-date sales at the end of the month were nearly 5 percent ahead of 2005's pace, following a record first-quarter this year.

"The year began ver  more...

Overnight real estate rates shoot higher

Long-term mortgage interest rates were up again Wednesday, and the benchmark 10-year Treasury bond yield rose to 5.14 percent.

The 30-year fixed-rate average gained to 6.18 percent, and the 15-year fixed-rate inched up to 5.83 percent. The 1-year adjustable was down at 5.24 percent.

The 30-year Treasury bond yield increased to 5.23 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...