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Mortgage News for Thursday - February 5, 2004

More Mortgage News
• Lenders begin passing on base rate hikes
• Chicago FHLB 2003 income up 55 pct vs year ago
• U.S. mortgage bond spreads, prices lower
• What does the rate rise mean for your mortgage?
• BoE hiked interest rates by 25 bps to 4.0 pct
• Soaring house prices to bump up loan rates
• Wednesday evening East Bay Biz Buzz: 1-in-6 odds seen for house-price drop
• Spokane conglomerate Metropolitan Mortgage files for bankruptcy
• Mortgage Activity Decrease
• Cautious banks hinder flat purchasers
• Building boom goes on in December
• Washington Mutual to Close Columbus, Ohio, Service Center, 89 lose jobs
• Two Apartment Developments Set for Fayetteville, N.C., Area
• Douglas County, Kan., Home Sales Establish Record in 2003
• Home buyers, start your search engines
• Mortgage closure costly to Cowlitz Bank
• Mortgage Giant Fannie Mae terminates some loan support
• Portland No. 2 on 'risk index' for home prices
• RATE RISE AFFECTS MORTGAGES
• Fannie Mae provides investors mortgage details
• MBA Supports Introduction of FHA Zero-Down-Payment Legislation
• Wells Fargo Plans to Hire 400 Bankers, Financial and Home Mortgage Consultants
• How to look for a break with a broker
• MORTGAGE RATE RISE WILL COST FIRST TIME BUYERS £250 MORE A MONTH
• Canadian Demand for Homes Is Holding Up
• MBA and Federal Home Loan Bank Officials Convene at the CREF/Multifamily Housing Convention & Expo
Mortgage News
Home buyers, start your search engines - 2004-02-05
Prime home-buying season is near. If you intend to join the house-hunting hordes in the spring and early summer, start preparing soon.

May through August mark the busiest months for home sales. Savvy buyers lay the groundwork in advance by educating themselves about the home-buying process and its terminology, checking their credit reports for errors, figuring out how much they can pay for a house, finding mortgage and real estate professionals whom they trust, and narrowing down their choices of neighborhoods.
Read the full story at Bankrate.com
 
Mortgage closure costly to Cowlitz Bank - 2004-02-05
Cowlitz Bank's recent decision to shut down part of its Bay Mortgage division in December has taken its toll on the company's finances, pushing it to a loss of more than $1 million in the quarter.

For the fiscal year ending Dec. 31, Cowlitz Bancorporation, Cowlitz Bank's parent company, saw its profits fall from $1.5 million in 2002 to $117,000 in 2003.
Read the full story at The Daily News
 






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