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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
Pressure off on bank staffs as mortgage refi business cools - 2003-09-15
As interest rates inch up from historic lows, Central Ohio lenders are readying by shrinking their mortgage staffs and acknowledging that refinancing won't serve as such a key revenue generator in coming quarters.

But area bankers don't appear overly concerned - despite cautions from regulators - that declining revenue from mortgage refinancings will crimp their bottom lines.
Read the full story at Columbus Business First
 
Students dropped rent for mortgage - 2003-09-15
St. Cloud State University sophomore Parker Lahti is studying real estate. At 19, he's also a homeowner.

Other students, too -- with a little help from mom and dad -- are combining academics with the real-world responsibilities of mortgage payments and home repair. The houses -- sometimes called "kiddie condos" -- are turning college students into landlords who collect rent rather than pay it.
Read the full story at The Olympian
 






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