Existing-home sales dive 12.8% in August

Existing-home sales dropped in August when mortgage availability problems were peaking, according to the National Association of Realtors.

Total existing-home sales -- including single-family, townhomes, condominiums and co-ops -- were down 12.8 percent to a seasonally adjusted annual rate of 5.5 million units in August from a year-ago level of 6.31 million, and are 4.3 percent below the 5.75 million-unit pace in July.

Lawrence Yun, NAR senior economist, expected the decline.  more...

Home prices continue decline in major cities

Two indices measuring home-price changes in major U.S. cities showed continuing declines in July, with each showing a steeper rate of decline in each of the seven months from January through July.

The Standard & Poor's/Case-Shiller index tracking 10 U.S. cities was down 4.5 percent in July from the same month a year earlier, while the index tracking 20 U.S.  more...

Another dismal month for consumer confidence

Consumer confidence took another hit in September, falling to its lowest level in nearly two years, as Americans grew more cautious about current business conditions and a softer job market, The Conference Board reported today.

The Consumer Confidence Index fell to 99.8 this month from 105.6 in August, and hasn't been this low since November 2005 when it registered 98.3.

"Weaker business conditions combined with a less favorable job market continue to cast a cloud over consumers and heighten their sense of uncertainty and concern," Lynn Franco, director of The Conference Board  more...

DocuSign completes $12.4 million round of financing

DocuSign, a company that offers e-signature technology for real estate professionals and other industries, today announced that it has raised $12.4 million in its latest round of investor financing, for a total of about $29 million since the company launched.

WestRiver Capital LLC led the Series C financing round, which follows a $10 million round in April 2000. WestRiver was supported in the latest round of investor financing by existing company investors Frazier Technology Ventures, Ignition Partners and Sigma Partners.

Matthew J.  more...

Overnight real estate rates still higher

Long-term mortgage interest rates were up again Monday, and the benchmark 10-year Treasury bond yield rose to 4.63 percent.

The 30-year fixed-rate average rose to 6.09 percent, and the 15-year fixed rate edged up to 5.74 percent. The 1-year adjustable, however, stayed at 5.68 percent.

The 30-year Treasury bond yield was down at 4.88 percent.

Rates and bonds 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...

Bill would let bankruptcy courts impose loan mods

Legislation that would allow bankruptcy courts to modify the terms of a homeowner's mortgage loan could save 600,000 homes from foreclosure, the bill's sponsor claims.

HR 3609, the Emergency Home Ownership and Mortgage Equity Protection Act of 2007, would repeal a legal provision that prohibits bankruptcy courts from modifying the repayment terms of home mortgages. Bankruptcy courts already have the power to modify payments on other secured debts, including mortgages on other properties.  more...