Refinances push home loan apps higher

Despite a drop in home purchases, last week's jump in refinancing applications pushed overall volume higher, the Mortgage Bankers Association reported today.

The market composite index, a measure of mortgage application volume, edged up 0.9 percent on a seasonally adjusted basis from the week before.  more...

Tough month for home construction

Home construction in June continued to trail activity from a year ago, as building permits, housing starts and completions were down an average of 24 percent, the U.S.  more...

New Yorkers pay highest closing costs

A nationwide survey of lenders by Bankrate.com found that while closing costs are lower than last year, residents of some states continue to pay considerably more than others.

The Bankrate.com survey -- conducted by obtaining six to nine good faith estimates for a $200,000 loan from online mortgage lenders -- found closing costs averaged $2,736 nationwide. That's down 9.5 percent from 2006, when closing costs averaged $3,024.  more...

Mixed night for real estate rates

Long-term mortgage interest rates were scattered Tuesday, and the benchmark 10-year Treasury bond yield rose to 5.05 percent.

The 30-year fixed-rate average inched up to 6.32 percent, and the 15-year fixed rate sank to 6.01 percent. The 1-year adjustable stayed at 5.55 percent.

The 30-year Treasury bond yield was up at 5.14 percent.

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

Redfin snags another $12 million in funding

Redfin, the Seattle-based online real estate brokerage that's shaken up the industry by offering deep commission discounts to consumers, has secured another $12 million in venture capital funding and announced expansion in the East Coast.

The brokerage company has raised $20.8 million to date.  more...

VFlyer on InmanTV

Amidst a slowing housing market, some real estate agents are embracing Web-based productivity tools that aim to help market properties effectively online.  more...

Feds, states to coordinate reviews of subprime lenders

Federal regulators will coordinate with state agencies to police subprime lenders, including subsidiaries of banks and thrift holding companies and the mortgage brokers they work with.

Under a pilot program announced Tuesday, the Federal Reserve, the Office of Thrift Supervision and the Office of Thrift Supervision will evaluate nondepository lenders' underwriting and risk-management practices for compliance with federal consumer-protection regulations and laws.  more...