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Mortgage News for Tuesday - January 6, 2004

More Mortgage News
• Buy-to-rent market picks up
• November construction revises record
• Gains for northern homeowners in 2003
• Construction activity breaks another record
• Banks Work to Narrow Cultural Divide with Hispanic Customers
• House prices increased 15.4% on year
• Healthy Spending In Construction
• U.S. property bond supply could drop in 2004 - S&P
• HMO Mortgages Won't Work, ICBA Informs Congress
• With U.S. reliant on Chinese lending, two economies interwined
• NAR:Economy Improves, Home Sales Softer in 2004
• ABN AMRO Mortgage Group's Record-Shattering Year-to-Date Production Tops $120 Billion
• Mortgage Industry Veteran Barry P. Epstein Joins American Business Financial Services
• LSB Expands in Guilford County New Office to Operate in Jamestown in Spring
• FHA bumps up mortgage insurance limits
• Turner should help rein in mortgage lenders
• New book gets down to mortgage facts
• Mortgage rates edge up, but home sales still strong
• Ass. Mortgage Intermediaries Guide to "Cold Calling"
• Real estate advice: Seller financing avoids loan 'points'
• Construction Boost Builds Optimism
• No bust but housing market to weaken - NAEA
Mortgage News
Banks Work to Narrow Cultural Divide with Hispanic Customers - 2004-01-06
When Evelyn Xiomara Moretta wanted to acquire her first home last year, the native of Puerto Rico sought a mortgage from the First Union bank branch in St. Petersburg where she held a checking account.

Once there, she struggled to understand a loan officer's English and puzzled over the paperwork. She paid a $375 fee upfront with no guarantee of approval for the house she coveted: a $68,000 two-bedroom in Kenneth City.
Read the full story at Miami Herald
 
House prices increased 15.4% on year - 2004-01-06
Housing prices increased by 15.4% in the past year, with a 1.8% rise last month, Britain's biggest mortgage lender, the Halifax, indicated today.

Although this was well down on 2002's 26.4%, Halifax says the average price of a home is now £142,000.

The figures were in line with those reported by Nationwide Building Society last week, which put growth at 1.6% in December and 15.6% for the year.
Read the full story at This Is Money
 






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