Mortgage lenders send 3,050 workers packing

National City Corp., Countrywide and Lehman Brothers announced more than 3,000 layoffs today and Wednesday, as mounting losses in mortgage lending force companies to cut costs.  more...

Move Inc. enters content deal with Bankrate

Move Inc. has signed an agreement with Bankrate Inc. to push mortgage resources out to its large online audience, including a directory of mortgage brokers and updated mortgage and home equity rate data.  more...

Mortgage rates up slightly this week

Long-term mortgage rates inched up this week, according to surveys conducted by Freddie Mac and Bankrate.com.

In Freddie Mac's survey, the rate on 30-year fixed mortgages grew to an average 6.46 percent from 6.45 percent a week ago, and the 15-year fixed rose to 6.15 percent from 6.12 percent.  more...

Farmers Insurance to pay $3.4 million in fines, refunds

Farmers Insurance Group has agreed to refund $1.4 million in homeowners insurance premiums and pay $2 million in fines to settle allegations by California regulators that the company overcharged more than 5,000 customers and arbitrarily refused to renew others' policies.

In complaints dating back to 2003, the California Department of Insurance claimed Farmers overcharged 5,237 policyholders by automatically classifying their homes as being at a higher risk for fire when it lacked data on the nearest fire-hydrant location.  more...

Real estate rates down overnight

Long-term mortgage interest rates were lower Wednesday, and the benchmark 10-year Treasury bond yield sank to 4.47 percent.

The 30-year fixed-rate average dropped to 6.1 percent, and the 15-year fixed rate slipped to 5.78 percent. The 1-year adjustable was down at 6.01 percent.

The 30-year Treasury bond yield was down at 4.78 percent.

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

InmanTV: Real estate and mapping technology

Chris Pendleton is the technical evangelist for Microsoft Virtual  more...