Termites expected to wage war on real estate

Termites can eat into homeowners' pocketbooks, causing an estimated $2.5 billion in damages each year, according to the National Pest Management Association, and this year the termite swarms are expected to be particularly heavy.

The Gulf States, and especially Louisiana, are prime territory for termites. An estimated one in 30 homes is infested with termites, and an average house can be treated for termites for about $1,400.  more...

Sellers' market saves homeowners from foreclosure

Foreclosures.com, a company that offers training programs, lists of pre-foreclosure and post-foreclosure properties, and other support services for foreclosure buyers, reports that the strong home sellers' markets in northern and southern California are keeping home prices elevated and are allowing some troubled homeowners to avoid foreclosure.  more...

RESPA changes pulled

The U.S. Department of Housing and Urban Development has withdrawn its proposal for changes to the Federal Real Estate Settlement Procedures Act and plans to review public and industry comments before resubmitting the rule, acting HUD Secretary Alphonso Jackson announced Monday morning.  more...

Fidelity lands greater market share in Florida

Fidelity National Financial, which provides products and outsourced services to financial institutions and the real estate industry, today announced it closed the acquisition of American Pioneer Title Insurance Co.

American Pioneer is a 45-state licensed title insurance underwriter with significant agency operations and computerized title plant assets in the state of Florida. Terms of the transaction were not disclosed.  more...

'Earth Plaster' excels at resource efficiency

The National Association of Home Builders recently announced the winners of the 2004 National Green Building Awards, which were presented during the sixth annual National Green Building Conference in Austin, Texas. Hosted by NAHB, the conference showcases resource-efficient residential design, development and construction.

National Green Building Awards were presented in six categories:

Outstanding Green Product Award  more...

Countrywide, Concordia enter joint venture

Countrywide Home Loans and Concordia Homes last week announced the formation of MCH Mortgage, a mortgage venture that aims to provide home buyers in the Henderson, Nev., area access to a wide variety of home financing programs.

MCH Mortgage, an operating division of Countrywide Mortgage Ventures, will offer qualified home buyers zero down-payment loans and a variety of fixed- and adjustable-rate options with optimum flexibility on rate and terms.  more...

Mortgage rates inch higher

Long-term mortgage interest rates were higher Friday, and the benchmark 10-year Treasury bond yield rose to 3.78 percent.

The 30-year fixed-rate average rose to 5.1 percent, and the 15-year fixed-rate climbed to 4.43 percent. The 1-year adjustable remained at 2.94 percent.

The 30-year Treasury bond yield climbed to 4.72 percent.

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