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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
Home sales set more records; median price on Eastside surges 9.4% over last year - 2003-08-07
When mortgage interest rates hit bottom in mid-June and climbed for five straight weeks in July, it activated a stampede in the Eastside housing market that set monthly records for median price, closed sales and pending sales.

The median price of Eastside houses and condominiums rose 9.4 percent in July to $347,990, compared with $317,950 in July 2002. The month of July has brought the highest median prices for homes on the Eastside in three of the last four years.
Read the full story at Eastside Journal
 
Mortgage Lender Household Financial to pay $6 million in state settlement - 2003-08-07
Connecticut homeowners with mortgages from Household Financial Corp. can initiate filing for claim payments this week of up to $7,000 linked to a lawsuit settlement. About 5,600 mortgage holders are eligible.

In October, Household Financial Corp., based in Prospect Heights, Ill., settled for $484 million to close an investigation by several states into illegal marketing practices. Connecticut’s share is $6 million.
Read the full story at New Haven Register
 






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