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Mortgage News for Thursday - January 15, 2004

More Mortgage News
• U.S. Mortgage Rates Decreased to 5.66 Percent
• Mortgage Player National City to restate past results
• Washington Mutual to shut East Bay loan-processing center
• Property Valuations Sees Big Increase
• Mortgage Player Countrywide becomes primary dealer with Fed
• Former Owner of Norfolk, Va., Hotel Recieves Jail Sentence for Mortgage Scam
• Council Agrees On Consensus for Affordable Housing Resolution
• Improve credit score before applying for a mortgage
• TCF Financial: interest rates negatively affect lending revenue
• Ohio Agency Investigates Actions of Defunct Westerville Mortgage Firm
• Prices of Manhattan Apartments Expected to Climb Upward This Year
• Why Housing Should Stay Robust
• Can we afford buy-to-rent?
• County housing sizzled in '03
• Lowest inflation in four years
• What's our best mortgage alternative?
• Should you go for a piggyback mortgage?
• Reasons for mortgage refinancing
• Tips to get out of debt
• More advice on avoiding mortgage-insurance fees
• San Diego Median $405,000 Highest Ever
• HomeBanc does $5.9 billion in mortgage loans in 2003
• US consumer debt hits record levels
• New home construction explodes
• Florida Civil Suit Can Go Ahead in Mortgage Fraud Case Despite Criminal Probe ( )
• Mortgage insurance player will take a $96M charge
• Anworth Mortgage Asset Corporation Posts Earnings of $0.36 Per Share for the Fourth Quarter of 2003
• Availent to Buy First Texas Residential Mortgage
Mortgage News
US consumer debt hits record levels - 2004-01-15
US consumer debt has hit staggering levels after more than doubling over the past 10 years. This figure, representing credit card and car loan debt, but excluding mortgages, translates into approximately $18,700 per US household.

Outstanding consumer credit, including mortgage and other debt, reached $9.3 trillion in April 2003, representing an increase from $7 trillion in January 2000.
Read the full story at World Socialist Web Site
 
New home construction explodes - 2004-01-15
There are more expensive houses are being developed in Columbia and Boone County, and government officials say the numbers will likely continue to grow.

"Many people chose real estate as a way of making an investment" in the early 2000s, said Daryl Hobbs, director of the office of Social and Economic Data Analysis at the University of Missouri-Columbia. "Because the stock market declined and mortgage rates were low, there was a significant boom in construction all over the country."
Read the full story at Columbia Daily Tribune
 






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