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Mortgage News for Monday - September 29, 2003

More Mortgage News
• Consumers need help
• Locals advertise homes on Web sites, but takers unlikely
• Atlantic Station condos attracts hordes of buyers
• Retiring baby boomers will keep property prices high
• Mortgage rates decrease for 3rd straight week
• The intelligent way to use credit card balance transfers
• Mortgage industry prepares for rate increases
• Shut down mortgage firm sued
• BofA using online helpers to increase mortgage business
• Higher California mortgage defaults predicted
• Suit: Fountainhead charging 'sham' fees
• Area banks' ROA dips below national average in second quarter
• Real estate on the menu
• Soaring real estate values provides mortgage insurance relief to some
• Wachovia Mortgage begins e-mail effort
• More people face money problem
• Abana Realty relocates to Hoover, triples HQ size
• Low mortgage rates boost commercial lending in first half of 2003
• Finance firm expands rare network
• New regulations may lower manufactured home sales
• Competition Creates Sunday Banking Hours
• Slight increase in interest rates doesn't slow buyers
Mortgage News
Competition Creates Sunday Banking Hours - 2003-09-29
For an increasing number of financial institutions across the country, bankers' hours now means Sunday.

A spate of bank branch building has led to tougher competition for customers, said Alaniz. He said branches have sprung up as bank profits have risen over the last three or four years, spurred by a mortgage refinancing boom.
Read the full story at Ledger-Enquirer
 
Slight increase in interest rates doesn't slow buyers - 2003-09-29
Mortgage interest rates have begun to move up from rock-bottom levels, but new home sales remain vigorous in Manatee and Sarasota counties.

Rates dropped to about 5.3 percent for a 30-year, fixed-rate mortgage in June. The average rate now for the same loan is up to about 6.2 percent.

But the rates creeping higher might be driving buyers to new-home communities to snap up deals.
Read the full story at Business Journal of Tampa Bay
 






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