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Mortgage News for Monday - September 15, 2003

More Mortgage News
• House price index at odds with lenders
• House price reports don't add up
• Struggling family acquires home with help of nonprofit group
• Housing prices higher, but financing down: BMO
• Banks eager to promote home equity lines of credit
• Mortgage rates a quarter percent lower
• UK house prices increase 14% in year
• Wells Fargo Home Mortgage will create 21 jobs downtown
• Pressure off on bank staffs as mortgage refi business cools
• Students dropped rent for mortgage
• A chastened Silipigno vows collapse of mortgage company will not be his life story
• Businesses follow residential borrowers into mortgage refi arena
• BUYERS CASH IN ON REAL ESTATE BOOM
• Habitat home completed
• Bank of Granite set to grow with Cornelius branch
• GE Mortgage Insurance removes home price limits
• Quebec homeowners get easier access to home equity borrowing through CIBC
• New index reveals house prices up 14%
• Middle class barely gets by
• The myth of a self-supporting recovery
Mortgage News
Struggling family acquires home with help of nonprofit group - 2003-09-15
Will Anderson grew up in a West Des Moines home whose value was more than $300,000. His father had a good job at Deere & Co.

Later this month, with the help of Home Inc., a nonprofit housing group, his family will buy and move into a new two-story home in the 1500 block of 12th Street. The mortgage payments will be about $200 less a month than their rent, and his 5-year-old daughter and 3-year-old son won't have to share a bedroom.
Read the full story at Des Moines Register
 
Housing prices higher, but financing down: BMO - 2003-09-15
Housing prices in Canada may be increasing, but a new report from Bank of Montreal says the average monthly cost of financing a home has dropped in the past year based on an average five-year fixed mortgage.

According to a report from the bank's economics department, the average monthly cost of financing a new home, based on an average five-year fixed mortgage, has dropped 1.7 per cent from a year ago.
Read the full story at Globe and Mail
 






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