Realogy reports network growth in 2007

Despite the downturn in the U.S. real estate market, real estate brokerage and franchise company Realogy has reported expansion of its franchise networks in 2007.

In an announcement today, Realogy announced that its Coldwell Banker brand entered nine additional countries in 2007, while adding 31 Coldwell Banker franchise affiliates. Also, the company announced that 56 existing Coldwell Banker franchises expanded operations through mergers or acquisitions in 2007.  more...

California sees drop in real estate licensees

For the first time in five years, the total number of real estate licensees in California dropped slightly in December, according to California Department of Real Estate statistics.

The real estate regulatory agency reported that the total number of real estate licensees dropped from 549,244 in November 2007 to 548,959 in December, a 0.1 percent decline. It was the first monthly decline since March 2002.  more...

Mortgage rates climb this week

Long-term mortgage rates rose sharply this week, Freddie Mac reported today, as inflation ran high and investors eyed mortgage-back securities in light of higher loan limits.

The average rate on 30-year fixed-rate mortgages shot up by 32 basis points in the last week, rising from 5.72 percent to 6.04 percent, and the average 15-year fixed mortgage was up 39 basis points, from 5.25 percent to 5.64 percent.

Points, or fees that lenders charge for loan processing expressed as a percent of the loan, averaged 0  more...

Stocks, housing dent economic outlook

Declines in stock prices and housing permits continued to impact the economic outlook in January, as The Conference Board reported today that its U.S. leading index fell for the fourth straight month.

The index, considered a gauge of economic activity over the next three to six months, dipped 0.1 percent in January, and now stands at 135.8. Based on revised data, this index sank 0.1 percent in December, 0.4 percent in November and 0.5 percent in October.  more...

Real estate rates jump overnight

Long-term mortgage interest rates continued higher Wednesday, and the benchmark 10-year Treasury bond yield sank to 3.89 percent.

The 30-year fixed-rate average rose to 6.01 percent, and the 15-year fixed rate increased to 5.51 percent. The 1-year adjustable rate, however, dipped to 4.98 percent.

The 30-year Treasury bond yield was lower at 4.61 percent.

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