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Mortgage News for Thursday - August 7, 2003

More Mortgage News
• Mortgage rates touches 1-year highs
• Soaring Mortgage Rates Put Economic Recovery In Jeopardy
• Rising rates check refinancing mortgage boom
• The economy picks up
• Analyst: Higher mortgage rates won't doom Home Depot shares
• Home sales surged 25 percent in rush to beat rising mortgage rates
• ABN Amro gives bullish forecast
• Citigroup appoints top female exec to run consumer unit
• Majority intend to use pension for mortgage or holidays
• Mortgage borrowers eligible for $5.1M
• Mortgage defaults expected to increase
• EQUITY RELEASE SCHEMES: PENSIONERS AT SERIOUS RISK
• PREDATORY LENDING: Settlement done with Household
• Median price of South County homes jumps 7.9 percent over the previous year
• Home sales set more records; median price on Eastside surges 9.4% over last year
• Mortgage Lender Household Financial to pay $6 million in state settlement
• Habitat for Humanity holds northwest applications
• HomeStreet Bank gets neighborly
• California getting $91M in mortgage lending settlement
• Eves gives homeowners mortgage tax break
• Mortgage Lender First NLC Financial Services Promotes Rob Cosentino to Senior Vice President, Sales
• Register Today for MBA’s 90th Annual Convention & Expo!
• Housing to Maintain Strength Despite Higher Mortgage Rates, Says NAR
• Refinancing Activity Dips Slightly, Purchase Mortgage Applications Up in Latest MBA Survey
• ABN Amro Earnings Climb 46 Percent in Q2
• New Freddie Mac CEO Promises to Fix Mortgage Giant's Problems
Mortgage News
PREDATORY LENDING: Settlement done with Household - 2003-08-07
Approximately 6,900 Wisconsin residents are eligible for a share of a $5.1 million settlement with Household International Inc. over alleged deceptive and unfair lending practices.

Mortgage or home equity borrowers, most of whom are from southeast Wisconsin, should receive claim notices in the mail over the next two weeks. Consumers who obtained a mortgage loan directly from Household International from January 1999 through September 2002 are eligible.
Read the full story at Pioneer Planet
 
Median price of South County homes jumps 7.9 percent over the previous year - 2003-08-07
When mortgage interest rates bottomed out in mid-June and climbed for five straight weeks in July, it set off a rush in the South County housing market, leading to new monthly records for median price, closed sales and pending sales.

The median price of South County houses and condominiums rose 7.9 percent in July to $226,750, compared with $210,000 in July 2002.
Read the full story at Eastside Journal
 






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