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Mortgage News for Friday - January 31, 2003

More Mortgage News
• More Hawaii residents turning to homeownership
• Bush's impossible budgetary math logic
Mortgage News
More Hawaii residents turning to homeownership - 2003-01-31
Greater number of Hawaii residents are becoming homeowners, according to a 2003 Hawaii Housing Policy Study by SMS Research.

The report, commissioned by a consortium of state, county and private housing agencies -- found that fewer residents are living in overcrowded, substandard units. At the same time, housing prices increased, due to falling mortgage interest rates, lack of housing construction and an increase of sales to nonresidents.
Read the full story at Pacific Business News
 
Bush's impossible budgetary math logic - 2003-01-31
The unreal quality of the Bush administration's economic program attained new heights last week. ''I believe deficits do matter,'' Vice President Dick Cheney declared at a summit meeting of skeptical world leaders in Davos, Switzerland.

If -- actually, when -- the average mortgage interest rate goes up from 6 percent to 7 percent, a family taking out a 30-year mortgage for $250,000 will owe another $2,000 a year to the lender.
Read the full story at Lenawee Connection
 






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