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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
A Profile of a Neighborhood Is Now Just a Click Away - 2004-02-06
Want to know how many empty lots are in your neighborhood? How high the rent increases have been? The rate of mortgage foreclosures? How many people live in "linguistic isolation" (bureaucratese for "non-English speakers'')?

Under a new federally financed program, anyone wanting to tap into a wealth of housing (and other) information about any of New York City's neighborhoods - would-be home buyers, renters, policy makers or community advocates - can log on at no charge to a simple-to-use Web site at www.nychanis.com.
Read the full story at New York Times
 
Onwards and upwards with mortgage rates - 2004-02-06
As predicted by almost everyone, interest rates were duly increased yesterday by 0.25 points to 4%. This is only the second increase in four years, ending a remarkable period of stability.

The reason is simple: too much money chasing too few houses, a situation that will not change until the government either persuades others to build houses or encourages local councils to do it. If house prices continue rising at double-digit rates, then the small rise in mortgage payments will easily be offset by more capital gain.
Read the full story at Guardian Unlimited
 






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