Houston's single-family real estate breaks records

Real estate sales in the Houston, Texas, market climbed for the ninth straight month in June, as single-family home sales and prices hit new highs, the Houston Association of Realtors reported today.

Total property sales, which include single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 9,166 in June, up 14.1 percent from June 2005.

Sales of new and existing single-family home sales set a record last month with 7,588 transactions, up 13.4 percent from last June's 6,694.  more...

Mortgage rates retreat on jobs report, terrorism

A disappointing labor market report and terrorist bombings in India helped take mortgage rates lower this week, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage fell to an average 6.74 percent this week, down from last week's average of 6.79 percent. The average for the 15-year fixed dropped to 6.37 percent from last week's average of 6.44 percent.  more...

Countrywide's real estate loan production down

Countrywide Financial Corp.'s mortgage loan fundings for June were $42 billion, down 11 percent from a year ago, the company announced today.

Second-quarter-2006 funding volume totaled $117 billion, a decline of 3 percent from the same period last year. But the Calabasas, Calif.-based company said year-to-date loan fundings are still up 4 percent from last year at $220 billion.

Monthly purchase volume was $21 billion, a 12 percent drop from the $24 billion reported for June 2005.  more...

Home builders predict housing slowdown

The National Association of Home Builders is predicting rising interest rates to spur a drop in home-price appreciation and housing starts to more sustainable levels, the trade group said in a report.

While the housing market is experiencing a gradual cooling process at the national level, some states continue to show growth, according to the report, which provides a regional look at the economy and housing sector and state-by-state forecasts.

"We are coming off a very strong couple of years for the housing industry and markets are now starting to cool to more sustainab  more...

Buyer's market emerges in Twin Cities

Demand for Twin Cities real estate continued to slow in June as home sales fell for the third straight month and prices grew only slightly, according to reports from three Twin Cities-area Realtor associations.

Realtors recorded 5,620 home sales last month, down 16.6 percent from 6,735 closed sales in June 2005.  more...

Overnight real estate rates creep higher

Long-term mortgage interest rates were up Wednesday, and the benchmark 10-year Treasury bond yield remained at 5.1 percent.

The 30-year fixed-rate average gained to 6.35 percent, and the 15-year fixed-rate rose to 6.05 percent. The 1-year adjustable was down at 5.47 percent.

The 30-year Treasury bond yield sank to 5.14 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...

California disbursing $2 billion housing bond

In California, state housing officials this week announced $211 million in awards to help provide housing for more than 11,000 families in 42 counties.  more...