Brokerage company gets license for controversial map patent

Real Estate Alliance Ltd. has issued another license for a patent the company holds for using a computer mapping system to locate available real estate properties for sale. The move is the latest news in the patent holder's initiative to enforce its patent in the real estate industry.

Real Estate Alliance Ltd., or REAL for short, caught the industry's attention last year when it sued a Philadelphia Realtor, claiming the agent was infringing the patent on her Web site.  more...

New Jersey landlord accused of religious discrimination

The U.S. Department of Housing and Urban Development has issued a charge of discrimination against the landlord of a Lakewood, N.J., apartment complex and two employees for allegedly attempting to segregate tenants based on their religion, race, color and national origin.

HUD alleged that Triple H. Realty LLC, owner of the 104-unit, six-building Cottage Manor Apartments, along with the managing agent and onsite superintendent treated non-Jewish tenants differently than Jewish tenants.  more...

Mortgage rates end week mixed

Mortgage rates posted mixed growth this week following last week's Fed hike and announcement that economic growth is "moderating," 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 6.79 percent for the week ended today, almost unchanged from last week's average of 6.78 percent. The 30-year fixed has not been higher since May 24, 2002, when it averaged 6.81 percent.  more...

Florida homeowners have mixed views on buying real estate

Florida homeowners are cautiously optimistic about their state's real estate market, with most believing their homes' values will rise in the next year, but showing mixed views on whether now is a good time to buy, according to a new survey.

Fifty-eight percent of Florida homeowners responding to the survey said they think the value of homes in their community will rise over the next 12 months, despite indications that the state's five-year housing boom is waning.

Home sales in Florida fell 24 percent in May from the previous year, according to the Florida Association of Rea  more...

Falling interest rates fuel home-buying spree

A drop in interest rates last week pushed overall mortgage applications up 5.9 percent on a seasonally adjusted basis from the previous week, the Mortgage Bankers Association reported today.

The MBA's seasonally adjusted purchase index increased by 6.5 percent to 414.2 from 389 the previous week, and the refinance index increased by 5 percent to 1,423.9 from 1,356 one week earlier.  more...

Pending real estate sales increase in May

A National Association of Realtors index that tracks pending home sales increased slightly from April to May but dropped 10.1 percent below the May 2005 index.

The Pending Home Sales Index climbed from 111.9 to 113.4 from May to April, a 1.3 percent gain, the association reported.

The index is derived from pending sales of exist  more...

Overnight real estate rates rise

Long-term mortgage interest rates were up Wednesday, and the benchmark 10-year Treasury bond yield rose to 5.22 percent.

The 30-year fixed-rate average climbed to 6.4 percent, and the 15-year fixed-rate gained to 6.1 percent. The 1-year adjustable was down at 5.42 percent.

The 30-year Treasury bond yield increased to 5.27 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...