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Mortgage News for Monday - January 26, 2004

More Mortgage News
• Freddie Mac retained portfolio smaller in December
• Existing home sales establish a record in 2003: 6.1 million
• Santa Fe, N.M., Home Prices May Remain Same in 2004
• Don't bite off too much house
• IFG arm sees 46% mortgage increase
• Savers sock more away - but many set no cash aside
• Canadians invade France and start acquiring real estate
• IF to add 200 more staff for mortgages
• Cincinnati Home Sales Break Record For 2003
• Pulaski blunts mortgage downturn with other business
• Illinois home sales 5% higher in 2003, setting new record
• First Banks' Q4, fiscal year profit up
• Remortgaging your home to save money
• Real Estate Expo Comes to Miami
• Kerry's six million dollar mortgage for campaign
• Area Residents Indicted for Fraud and Obstruction of Justice
• BM Solutions at mortgage trail again
• Florida's Existing Home Sales Up 14 Percent, Median Sales Price increases 12 Percent in December
• Blacks Returning to New South
• US mortgage-backed bond prices lower, spreads widen
• Economic worries run high in Arizona
• CMG Mortgage Services Broker Guy Schwartz Earns Prestigious National Mortgage Industry Certification
• Good Times Still a Go for Housing Market
• Buyers fall behind on mortgages, fail to keep homes
• United Bancorp, Inc. Reports Record Earnings Reflecting an Increase of 16% for 2003
• SecureMove releases lifetime mortgage service
Mortgage News
Illinois home sales 5% higher in 2003, setting new record - 2004-01-26
Low mortgage rates helped post a 5 percent increase in Illinois's home sales in 2003 from 2002, the Illinois Association of Realtors revealed Monday.

In December, total home sales were 8,891, up nearly 2 percent from the same month last year. The median existing single-family home price was $171,800 in December, up 5.2 percent from December 2002.
Read the full story at St Louis Business Journal
 
First Banks' Q4, fiscal year profit up - 2004-01-26
Higher net interest income and gains on mortgage loans were reasons why First Banks Inc.'s saw a 4 percent increase in fourth-quarter profit.

The company reported net income of nearly $15.4 million, up from $14.8 million in the same quarter last year.

Return on average assets for the quarter was 0.85 percent, up from 0.81 percent a year earlier. ROA of 1 percent is considered a benchmark for financial institutions.
Read the full story at St Louis Business Journal
 






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