Real estate foreclosures down in August

New national foreclosures on real estate properties decreased 4.3 percent in August after two consecutive months of increases, according to a report from RealtyTrac, an online marketplace for foreclosure properties.

Despite the decline, August's new foreclosure numbers were higher than any other month except for July, according to the report. A total of 75,599 properties entered some stage of foreclosure or were foreclosed on – one for every 1,530 households.  more...

Real estate listings inventories rising

Home inventory levels are rising and in many areas it's taking more than 30 days for homes to sell, according to an industry survey released today.

However, strong buyer demand, record and near-record monthly sales, continued median home price appreciation, strong job growth and relatively low mortgage rates are fuelling momentum in the nation's housing market, according to HouseHunt's latest market conditions survey.

According to the survey, buyers still outnumber sellers at 61 percent and 39 percent, respectively  more...

WaMu finalizes buyout of Providian

Washington Mutual Washington Mutual, the biggest U.S. savings and loan, completed its purchase of credit-card provider Providian in a cash and stock transaction valued at $6.1 billion, the company said Monday.

The deal, announced in June, brings together two of the nation's leading retail financial services companies and gives Washington Mutual entry into the credit-card business.  more...

First American acquires Interealty

The First American Corp., a provider of advanced property and ownership information, analytics and services, has acquired Interealty, a division of Geac Enterprise Solutions and a provider of Web-based multiple listing service technology, for $35 million, First American said today.

The transaction closed Oct. 1, the company said.  more...

Canada's resale real estate breaks records

Existing-home sales through Canada's Multiple Listing Service set a monthly record in August, according to statistics released by The Canadian Real Estate Association. This was the second time that national sales have shattered all previous monthly records in 2005.

A seasonally adjusted total of 43,444 homes traded hands via MLS in August, up 5.4 percent compared to the previous month and up 3.1 percent from the previous national record for MLS sales for a single month – which was set in June 2005.  more...

Four indicted for identity theft charges in mortgage scheme

Four individuals in the Boston area were indicted Thursday for bank fraud and aggravated identity theft charges related to a scheme involving the use of stolen identities to obtain mortgage loans, the U.S. Attorney's office said.

The indictment details charges against Charlotine Pierre, 26, of Saugus, Mass.; Dotty Pierre, 25, of Saugus, Mass.; Provilon Duverge, 29, of Saugus, Mass.; and Frantzcia Pierre, 25, of Everett, Mass.  more...

Real estate construction spending climbs

Construction spending during August 2005 was estimated at a seasonally adjusted annual rate of about $1.11 trillion, which is 0.4 percent above the revised July estimate and 6.1 percent above the August 2004 estimate, the U.S. Census Bureau reported today.

During the first eight months of this year, construction spending amounted to about $723.7 billion, or 9 percent above the construction spending amount for the same period in 2004.  more...

Overnight real estate rates move higher

Long-term mortgage interest rates were up Friday, and the benchmark 10-year Treasury bond yield rose to 4.33 percent.

The 30-year fixed-rate average climbed to 5.42 percent, and the 15-year fixed-rate grew to 5 percent. The 1-year adjustable was up at 4.09 percent.

The 30-year Treasury bond yield increased to 4.57 percent.

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

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