Zilpy, the new 'Z' site in online real estate

Zilpy is like Zillow for rental properties, with rental price estimates, demographic data and heat maps based on median rental rates.

The new Web site, which launched last week and lists Zillow as a partner company, offers competition to Rentometer.com, another site that allows users to gauge rental prices in a selected area.

Zilpy.com is not a rental listings site.  more...

Mortgage rates dip on weak economic reports

Mortgage rates fell slightly this week on news of job losses in December and deteriorating business conditions in January, Freddie Mac reported today.

The average rate on 30-year fixed mortgages sank to 5.67 percent from last week's 5.68 percent, and the average 15-year fixed mortgage rate slipped to 5.15 percent from 5.17 percent. A year ago, the 30-year fixed averaged 6.28 percent and the 15-year averaged 6.02 percent.  more...

D.R. Horton reports $129 million Q1 net loss

D.R. Horton Inc. (NYSE: DHI), the largest home builder in the country, today reported a $128.8 million net loss in the first quarter of the fiscal year ended Dec. 31.

The loss of 41 cents per share missed Wall Street expectations for a loss of 25 cents per share, based on analysts' opinion data provided by Thomson Financial Network.  more...

Pending Home Sales Index falls 24%

An index that gauges pending sales of previously owned homes dropped 24.2 percent in December 2007 compared to December 2007, the National Association of Realtors reported, and the group expects sales to drop 4.8 percent this year compared to last year.  more...

Dems can't muster votes to expand stimulus plan

Senate Democrats fell one vote short Wednesday in an attempt to expand a $146 billion economic stimulus plan approved by the House last week.

Although the debate on the stimulus plan could drag on, House and Senate lawmakers see eye to eye on a temporary increase of the $417,000 conforming loan limit.  more...

Nightly real estate rates head higher

Long-term mortgage interest rates increased Wednesday, and the benchmark 10-year Treasury bond yield edged up to 3.6 percent.

The 30-year fixed-rate average rose to 5.49 percent, and the 15-year fixed rate gained to 4.96 percent. The 1-year adjustable rate, however, dipped to 5.05 percent.

The 30-year Treasury bond yield was up at 4.36 percent.

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

Loan servicers say more subprime borrowers getting help

Loan servicers participating in the voluntary HOPE NOW coalition say they initiated repayment plans or modified the loan terms of two of every three delinquent subprime borrowers in the second half of 2007 -- almost twice the rate of success previously reported.

The new findings were based on revised data that included more complete participation of members of the HOPE NOW alliance, according to a press release announcing the release of the survey.  more...

Jumbo lender projects record originations in 2008

Jumbo lender Thornburg Mortgage Inc. said Tuesday the company bounced back from a billion-dollar third-quarter loss to turn a profit in the final quarter of 2007, and plans to originate loans at a faster pace this year than it did during the housing boom.  more...