Houston real estate smashes records

The Houston real estate market recorded another month of record sales and prices in August, the Houston Association of Realtors reported.

Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 8,106 in August, up 16.6 percent from a year ago.

Additionally, year-to-date total property sales reached 53,554, which is an increase of 9.4 percent over the same period of 2004.

For the month of August, existing single-family home sales totaled 5,925, which was a 19.6 percen  more...

Study names most 'renter-friendly' U.S. cities

An online apartment ratings company today announced the results for a study of the most "renter-friendly" communities in the country.  more...

Economy loses strength

The U.S. leading index, a key barometer of economic conditions, fell 0.2 percent in August, the Conference Board reported today.

The leading index now stands at 137.6 (1996=100). Based on revised data, this index decreased 0.1 percent in July and increased 1.1 percent in June. During the six-month span through August, the leading index increased 0.4 percent, with five out of 10 components advancing.

The leading index decreased slightly in August, its second consecutive fall.  more...

Overnight real estate rates taper off

Long-term mortgage interest rates sank Wednesday, and the benchmark 10-year Treasury bond yield fell to 4.17 percent.

The 30-year fixed-rate average dipped to 5.34 percent, and the 15-year fixed-rate slipped to 4.9 percent. The 1-year adjustable was up at 3.95 percent.

The 30-year Treasury bond yield dropped to 4.46 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...

Real estate trade group examines insurance problems

The California Association of Realtors today announced plans to launch a Strategic Defense Program that will include the creation of a panel of real estate defense attorneys charged with improving the litigation climate and addressing the affordability and availability of errors and omissions liability insurance in California.

These types of policies help to protect real estate agents and consumers against lawsuits brought by consumers.  more...

Fed action sparks rise in real estate rates

Long-term mortgage rates rose for the second consecutive week after the Fed raised the cost of money Tuesday, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the 30-year fixed-rate mortgage averaged 5.8 percent for the week ended today, up from last week when it averaged 5.74 percent. The average for the 15-year fixed-rate mortgage is 5.37 percent, up from last week when it averaged 5.32 percent. Points on the 30- and 15-year averaged 0.6 and 0.7, respectively.  more...

Fidelity to refund $2.2M for alleged real estate kickbacks

Fidelity National Financial has agreed to refund $2.2 million to central Florida residents in the wake of an investigation by Florida's Department of Financial Services into alleged illegal referrals to title agencies for business, the department said today.

Under the refund program, Fidelity National title customers who paid for title insurance provided by one of  more...

HUD awards $139M to make low-income housing safer

Seven grant programs totaling $139 million to clean up lead paint hazards and improve living conditions for lower-income families were announced today by the U.S.  more...

Survey: Canadians make smart home-ownership decisions

Most Canadians exercise caution and financial prudence in financing their homes, according to a study by a major mortgage broker in Canada.

A June 2005 online study of more than 600 Canadian borrowers by Mortgage Intelligence, a GMAC company, found that 95 percent have financed primary residences, with 69 percent choosing fixed-rate mortgages over variable-rate mortgages,

The survey, conducted by Millward Brown, also found that 48 percent of primary mortgages held in Canada are under $100,000.  more...