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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
Bank of Granite set to grow with Cornelius branch - 2003-09-15
Just weeks after coming to Mecklenburg County, Bank of Granite Corp. has established a branch in Cornelius.

Other features of the Cornelius branch include regular teller services as well as a drive-through window and a mortgage representative. It has room for additional services, though Wes Sturges, Bank of Granite executive vice president, declines to disclose what those operations will include.
Read the full story at Charlotte Business Journal
 
GE Mortgage Insurance removes home price limits - 2003-09-15
GE Mortgage Insurance Canada has removed the
home price limits under its 95% default mortgage insurance program, effective immediately.

This change permits home buyers with five per cent down payments to purchase the homes they can afford based on their income, credit history
and debt-to-mortgage ratios.

Canadians who made a five per cent down payment
under the previous program were limited to a maximum purchase price ranging from $175,000 to $300,000.
Read the full story at Canada NewsWire
 






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