Home-buying attitudes hit 15-year low

Consumer confidence fell in February as home-buying attitudes dropped to their lowest level in 15 years, according to the University of Michigan's Survey of Consumers released today.

"The latest survey indicates that consumers have adopted a less favorable outlook for economic growth, expressed heightened concerns about potential increases in unemployment, and no longer anticipate any additional declines in the inflation rate," according to Richard Curtin, the director of the University of Michigan's Surveys of Consumers.

The Index of Consumer Sentiment was 86.7 in the Febru  more...

Toronto real estate sees near-record month

Home sales in Toronto, Canada, grew 9 percent in February from a year ago, marking the second-best February ever, the Toronto Real Estate Board reported today.

The 6,756 closed home sales last month came within 2 percent of the record set in February 2002, according to TREB, and gained 47 percent from January 2006 when 4,587 homes were sold.

"The performance of the Toronto area market early in the year has been very encouraging," said TREB President John Meehan.  more...

Massachusetts man sentenced in real estate deed scam

A Westboro, Mass., man was sentenced Feb. 27 in federal court on charges of conspiracy, mail fraud and witness tampering in connection with a deed scam, the U.S. Attorney's Office of Worcester, Mass., reported this week.

U.S. Attorney Michael J. Sullivan and Kenneth W. Kaiser, special agent in charge for the FBI, announced that Hasan Hussain, 44, was sentenced by U.S. District Judge F.  more...

Slowdown hits Virginia real estate

Home sales in Virginia fell for the fifth consecutive month in January, as home-price appreciation returned to a more normal pace, the Virginia Association of Realtors reported Thursday.

Realtors reported 6,716 home sales in January, down 15 percent from 7,965 posted during the same month last year and down 36.4 percent from December 2005's 10,565 closings.

Some areas, however, did show increases in closed transactions for the month, including the Charlottesville area, Harrisonburg-Rockingham County, Lynchburg, Ma  more...

Overnight real estate rates track higher

Long-term mortgage interest rates were up Thursday, and the benchmark 10-year Treasury bond yield climbed to 4.64 percent.

The 30-year fixed-rate average rose to 5.79 percent, and the 15-year fixed-rate gained to 5.44 percent. The 1-year adjustable was up at 4.63 percent.

The 30-year Treasury bond yield gained to 4.62 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...