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Mortgage News for Wednesday - November 26, 2003

More Mortgage News
• 100 WaMu workers lose jobs, more cuts expected
• Growth in GDP surges, strongest since 1984
• Economy delivers a cheery Thanksgiving: Most indicators Positive
• 30-Year Mortgage Rates Increases 0.06 Percent
• Household Finance to Pay $100 Million in Mortgage-Abuse Settlement
• South Carolina Home Sales Increase 25 Percent
• Household International to settle mortgage suit
• Massachusetts Home Sales Up for Fourth Consecutive Month
• Home dream turned nightmare haunts a dying man
• Home sales maintain gains over last year
• New Home Construction in Metropolitan Milwaukee Recovers
• Finance deals face clampdown as complaints leap
• Mortgage loan limit increased in county
• Last-chance mortgage
• Revised GDP sets growth at rate of 8.2 pct.
• Lenders take advantage of homeowners
• Realtors see benefit of higher mortgage loan limit
• Luxury home sales higher
• DOVER-Residents will see a 5.1% jump in property taxes in 2004.
• Cincinnati home sales break another record
• Bankrate: Mortgage Rates Ignores Latest Economic News
• Apex Mortgage Capital Stockholders Okays Merger with American Home Mortgage
• Freddie Mac Statrs Homeownership Effort for Low-Income Renters with Adams County Housing Authority, Bank of Hanover, Waypoint Bank, Housing Council of York
• MBA Likes Senate Passage of the American Dream Downpayment Act
Mortgage News
Household Finance to Pay $100 Million in Mortgage-Abuse Settlement - 2003-11-26
Household International Inc., the nation's biggest consumer lender, has agreed to pay approximately $100 million to settle class-action lawsuits that accused the company of abusive mortgage-lending practices, a consumer group said Tuesday.

The proposed deal, which includes a half-dozen class-action suits filed by individuals across the country, would potentially help thousands of Household customers.
Read the full story at Miami Herald
 
South Carolina Home Sales Increase 25 Percent - 2003-11-26
A stronger economy and stable low mortgage rates helped boost sales of new and existing homes 25 percent statewide in October.

It marked the fourth consecutive month with sales increases of at least 20 percent compared with the same time last year.

"The market remains hot, and we're all set for breaking all-time records," said Jim Peters, head of the S.C. Association of Realtors.
Read the full story at Miami Herald
 






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