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Mortgage News for Friday - February 13, 2004

More Mortgage News
• US 30-year mortgage rate unchanged Friday
• High on mortgages, low on cameras
• Ex-councilman to serve 15 months for mortgage fraud
• Macon, Ga.-Based Bank to Establish Three Retail Mortgage Offices
• SEC Wants Investigation for Spokane, Wash.-Based Metropolitan Mortgage
• Right of rescission allows you to back out of a loan
• Greenspan to Congress: Future looks bright
• More gains forecasted in home prices
• Fiscal hit up north
• Hawaii mortgage rates drop to 5.25%
• Asian central banks assisting U.S. home buyers
• I COULD LOSE MY HOME, SAYS ANGRY ISABEL
• Home buyers get break as mortgage rates decrease
• TYSON FOODS INTRODUCES $50 MILLION HOMEOWNERSHIP INITIATIVE FOR TEAM MEMBERS WITH FREDDIE MAC
• Home mortgage loans drop again
• Countrywide Bank Enhances Presence in Philadelphia Area; Establishes Financial Center in Huntingdon Valley
• Fannie Mae Goes For Front-End Funding For Feb
• Two men charged in credit-report scam
• Fidelity D & D Bancorp, Inc. Posts 2003 Financial Results
• SouthFirst Bancshares, Inc. Declares Earnings for Three Months Ended December 31, 2003
• Sterling’s mortgage unit breaks $1 billion
• Real estate lending here grew substantially in ’03
• More than zoning needed to keep some lenders from ripping poor off
• Habitat for Humanity to celebrate first house constructed in Jo Daviess County
• Inevitability of Higher Mortgage Rates
• Free autoresponder system for mortgage brokers at mortgagefollowup.com
Mortgage News
US 30-year mortgage rate unchanged Friday - 2004-02-13
The average rate on a 30-year U.S. mortgage with no upfront points was the same on Friday, leaving the rate at 5-7/8 percent, according to BestInfo, Inc.

If the market on Tuesday continues in its current direction, rates may decline. The 30-year mortgage rate with one upfront point was unchanged at 5-5/8 percent.
Read the full story at Reuters
 
High on mortgages, low on cameras - 2004-02-13
PMI Group is a mortgage insurance company. The company has been hurt higher refinancing as well as higher losses in its portfolio because of a weak economy.

The stabilization of rates should result in a more stable environment to grow the company's portfolio. As the economy continues to improve and job growth ensues, that should have a positive impact on loss rates.
Read the full story at MSN MoneyCentral
 






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