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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
Home dream turned nightmare haunts a dying man - 2003-11-26
Donald and Evangelina Omond say they never desired to become millionaires. They just wanted to pay down their mortgage and go on a holiday. Instead, they are struggling to meet their weekly expenses and facing a court appearance.

"We saw one of Mr Kaye's advertisement that said we could become millionaires," Mr Omond said. "We didn't want that, we just didn't want to have to worry about a mortgage in our retirement."
Read the full story at Melbourne Age
 
Home sales maintain gains over last year - 2003-11-26
New and existing home sales increased 25 percent in October over year-ago levels, due to a strong economy and low mortgage rates.

"The market remains hot, and we're all set for breaking all-time records," said Jim Peters, head of the South Carolina Association of Realtors.

The October gains were the fourth consecutive month sales increased 20 percent or more from the previous year.
Read the full story at Miami Herald
 






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