Mixed economic signals keep lid on mortgage rates

Long-term mortgage rates were mixed again this week as markets tried to make sense of strong GDP growth, falling consumer confidence and increased demand for bonds, Freddie Mac and Bankrate.com reported today.

In Freddie Mac's survey, the 30-year fixed-rate mortgage held at an average 6.24 percent -- a six-month low -- while the average 15-year fixed rate sank from 5.9 percent to 5.88 percent, also a six-month low.  more...

Bush administration slams anti-predatory-lending bill

The Bush administration is opposed to most provisions of proposed legislation aimed at predatory lenders, saying they would result in greater uncertainty and increased litigation, worsening the credit crunch and ultimately reducing home ownership.  more...

SoCal home sales up from September

Home sales in Southern California picked up slightly in October, despite market uncertainty and reduced availability of jumbo mortgage loans, according to statistics compiled by DataQuick Information Systems.

The 12,999 homes sold in Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura counties during October represented a 4.4 percent increase from the previous month.

But it was still the slowest October since DataQuick began collecting statistics in 1988, with sales down 45.3 percent from a year ago.  more...

Real estate rates up overnight

Long-term mortgage interest rates inched higher Wednesday, and the benchmark 10-year Treasury bond yield dipped to 4.25 percent.

The 30-year fixed-rate average rose to 5.94 percent, and the 15-year fixed rate grew to 5.53 percent. The 1-year adjustable, however, was down at 5.47 percent.

The 30-year Treasury bond yield slipped to 4.6 percent.

Rates and bonds are current as of 7:15 p.m. Eastern Standard Time.  more...