Canada's existing-home sales cool

Although Canadian existing-home sales via the Multiple Listing Service dipped in October, they remain on track to set an annual record this year, according to statistics released by The Canadian Real Estate Association.  more...

Sotheby's name grows in Garden State

Sotheby's International Realty Affiliates has expanded its luxury housing brand footprint in New Jersey with Heritage House Realtors joining the network.

Monmouth County, N.J.-based Heritage House has four offices and more than 150 sales associates, and will now do business as Heritage House Sotheby's International Realty.

The firm will continue to be independently owned and managed by Mary Burke.

As a part of the Sotheby's network, the firm  more...

South Carolinans plead guilty to real estate loan fraud

A real estate lawyer, two mortgage brokers and a businessman admitted they conspired to skim money from fraudulent property sales in Charleston, S.C., the Charleston Post and Courier reported Tuesday.

The conspiracy bilked two mortgage lenders out of thousands of dollars, media reports said.

U.S.  more...

UK real estate prices 'overvalued,' group says

House prices in the United Kingdom are "significantly overvalued," according to an international economic organization, the Financial Times reported Tuesday.

The Organisation for Economic Co-Operation and Development warned of the danger of a protracted period of large house-price falls with implications for a slowdown in consumer spending, the Times reported.

The group, described as an organization of the world's 30 wealthiest economies, said the current housing boom was unusual because of its duration, size and the degree to which it was widespread among the  more...

Real estate goes green at upcoming conference

The National Association of Home Builders will host a National Green Building Conference in March that is expected to draw about 1,000 builders, remodelers, developers, architects, engineers and other home-building professionals, the association announced today.

The conference, which will feature new products and educational opportunities for association members who build homes with a focus on environmental preservation, will be held in Albuquerque, N.M.

Ray Tonjes, Green Building Subcommittee chairman for the association and a  more...

Real estate refinancings hit 6-week lull

Overall mortgage applications fell 1.8 percent last week on a seasonally adjusted basis from the week before, as refinancings dropped for the sixth consecutive week, the Mortgage Bankers Association reported today.

The seasonally adjusted refinance index decreased by 6.3 percent to 1,484.3 from 1,584.1 the previous week, while the purchase index increased by 0.8 percent to 476.2 from 472.3 one week earlier.  more...

Overnight real estate rates increase

Long-term mortgage interest rates edged up Tuesday, and the benchmark 10-year Treasury bond yield rose to 4.48 percent.

The 30-year fixed-rate average gained to 5.77 percent, and the 15-year fixed-rate inched up to 5.34 percent. The 1-year adjustable was up at 4.48 percent.

The 30-year Treasury bond yield increased to 4.69 percent.

Rates 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...