South Carolina home sales fall

Home sales in South Carolina slipped 1.1 percent in June from their year-ago level, while the median home price posted impressive growth, the South Carolina Association of Realtors reported.

Realtors recorded 7,231 sales last month, down from 7,311 for June 2005.

A total of 35,291 homes were sold in the first half of 2006, up 1.9 percent from the 34,624 homes sold during the same period last year.

The overall median price for single-family, condo and villa home types was $170,000 in June, up 12.5 percent from a year earlier when the median was $151,000.

Among th  more...

Senate to consider permanent ban on banks in real estate

For the third straight year, the U.S. Senate Appropriations Committee has approved a permanent prohibition on the entry of federally chartered banking entities into the business of real estate brokerage.  more...

Colorado regulator to lead ARELLO

Debbie E. Campagnola, former director of the Colorado Division of Real Estate, a state regulatory agency, has been hired to lead the Association of Real Estate License Law Officials (ARELLO). Her first day on the job is Aug. 1.

ARELLO's members include representatives for regulatory agencies in the United States, Canada, South Africa, Australia, New Zealand, Hong Kong, and islands in the Caribbean, Pacific and Atlantic.  more...

Overnight real estate rates down

Long-term mortgage interest rates were lower Friday, and the benchmark 10-year Treasury bond yield rose to 5.04 percent.

The 30-year fixed-rate average dipped to 6.23 percent, and the 15-year fixed-rate dropped to 5.94 percent. The 1-year adjustable was down at 5.45 percent.

The 30-year Treasury bond yield increased to 5.09 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...