Countrywide sees big drop in January purchase loans

Countrywide Financial Corp. saw mortgage loan production fell 6.5 percent in January from the previous month, to $21.9 billion, as an increase in refinancings failed to offset a 24.5 percent decline in purchase loan production.  more...

California new-home sales fall 31% in 2007

New-home sales dropped 31.1 percent in 2007 compared to the prior year in California and the median price of new homes dropped 3.8 percent, the California Building Industry Association and Hanley Wood Market Intelligence reported today.

The median price for all types of new homes fell more than 10 percent year-over-year in six metro areas tracked in the report.  more...

Overnight real estate rates still rising

Long-term mortgage interest rates rose again Thursday, and the benchmark 10-year Treasury bond yield increased to 3.81 percent.

The 30-year fixed-rate average climbed to 5.76 percent, and the 15-year fixed rate gained to 5.2 percent. The 1-year adjustable rate, however, dipped to 5.01 percent.

The 30-year Treasury bond yield was higher at 4.64 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...