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Mortgage News for Friday - February 6, 2004

More Mortgage News
• Fannie Mae CEO defends mortgage giant's role
• US mortgage-backeds stronger after Jan jobs data
• Mortgage rates edge higher
• City working on drafting employee mortgage loan policy
• Low-rate mortgage loans for highest paid staff needs to be evaluated
• Homes away from home country
• Mortgage Giants Fannie, Freddie to Lose Free Advances From Fed
• Metropolitan Mortgage bankruptcy filing angries investors
• Housing market continues trend of higher prices, strong growth
• Area mortgage rates down a bit
• A Profile of a Neighborhood Is Now Just a Click Away
• Onwards and upwards with mortgage rates
• Landlords Fire Back
• Housing Affordability Dips to 23 Percent in Los Angeles County, Calif.
• Seattle-Area Housing Market Continues Trend of Higher Prices, Strong Growth
• Consumers hit by bank"s interest rate decision
• Sector still safe as houses
• Experts expect another rate hike by spring
• US mortgage bond prepayments at a two-year lows
• Mortgage banking educator adds to offerings
• Palomar Enterprises, Inc. Starts Real Estate Acquisitions
• Conference Call On Freddie Mac’s Updated Economic Forecast and Review 2003 Cash Out Refinance
• S.D. housing as affordable as 'wine country'
• 83% of Americans with Medical Debt Say It Is Burdensome Enough to Stop them from Major Purchases
Mortgage News
S.D. housing as affordable as 'wine country' - 2004-02-06
San Diego possessed the least affordable housing in the state in December, with only 15 percent of households able to afford a median-priced home, it was disclosed today.

The minimum household income needed to purchase a median-priced home at $404,520 in California in December was $94,730, based on a typical 30-year, fixed-rate mortgage at 5.82 percent and assuming a 20 percent down payment.
Read the full story at SignOn San Diego
 
83% of Americans with Medical Debt Say It Is Burdensome Enough to Stop them from Major Purchases - 2004-02-06
Over eight out of ten Americans who possess outstanding medical debt say that these debts are either a major or minor burden, stops them from making purchases of large ticket items, such as houses, cars or major appliances.

Of those with medical debt, 17% say this debt is not large enough to prevent their purchases. Of those surveyed, 16% owe on debt associated with a medical or dental procedure, including the purchase of prescription drugs.
Read the full story at Business Wire via Yahoo!
 






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