Fed keeps federal funds rate at 5.25%

There's still a risk that inflation won't stay in check, despite the ongoing downturn in the housing market, members of the Federal Reserve's Open Market Committee said Wednesday in keeping the short-term federal funds rate at 5.25 percent.  more...

RE FormsNet acquires REBT

RE FormsNet, an electronic forms software provider, has acquired Real Estate Business Technologies LLC in a move said to be the next step in transitioning the industry from paper-based to online home-sale transactions.

Real Estate Business Technologies, or REBT, owns the RELAY transaction management software, a key piece to online transactions that require less paper.

"The acquisition of REBT by RE FormsNet will enable us to take advantage of the economies of scale inherent in operating the two companies as one and will further accelerate meaningful synergies as we move forwar  more...

Home-buying activity picks up

Applications for home-purchase loans and refinancings increased last week as interest rates dipped, the Mortgage Bankers Association reported today in its weekly survey.

The market composite index, a measure of mortgage loan application volume, increased 3.6 percent, growing to 680.7 on a seasonally adjusted basis from 657.2 one week earlier.  more...

Overnight real estate rates sleep

Long-term mortgage interest rates were unchanged Tuesday, and the benchmark 10-year Treasury bond yield slipped to 4.62 percent.

The 30-year fixed-rate average held at 5.76 percent, and the 15-year fixed rate remained at 5.49 percent. The 1-year adjustable stayed at 5.61 percent.

The 30-year Treasury bond yield rose to 4.8 percent.

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