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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
Mortgage rates decrease for 3rd straight week - 2003-09-29
Mortgage rates have dropped for the third week in a row -- something that has not occured since late May and early June.

The benchmark 30-year fixed-rate mortgage fell 5 basis points to 6.01 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.32 discount and origination points. One year ago, the mortgage index was 6.03 percent.
Read the full story at Bankrate.com
 
The intelligent way to use credit card balance transfers - 2003-09-29
The atmosphere of low interest rates, with attractive solicitations popping up everywhere, has been fertile ground for continued strength in consumer spending.

Sure, many have consolidated their accumulated credit card balances on a home equity loan or as part of a cash-out mortgage refinancing, taking full advantage of the heady appreciation in real estate prices and the swelling equity stake homeowners have at their disposal.
Read the full story at Bankrate.com
 






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