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Mortgage News for Wednesday - March 10, 2004

More Mortgage News
• ARM an alternative to fixed-rate mortgage
• U.S. mortgage refinancings climb
• January's snow blamed for decrease in home sales
• Consumers take chance with adjustable-rate mortgages
• Mortgage Endowment providers are target for MPs' ire
• Federal Home Loan Banks look for higher returns-study
• Low Rates Provide Boost to Mortgage Player
• Ex-deputy PM vows “normal” mortgage
• Mortgage lending rise boosts Widows Bank profits
• Study downplays housing shortage
• Get a Mortgage Before a Home
• Mortgage rates go back to last summer's lows
• Buy-to-let hits first-time buyers
• Co-op Bank gets assistance from its mortgages
• Racial disparity in mortgage lending
• Mortgage Interest Rates Drop Again to 45-Year Lows, Surprising Forecasters
• Mortgage Giant Fannie Mae, Financial Times clash over derivatives
• Free Opportunity in Mortgage Acceleration Industry
• Mortgage Industry Veterans Unveil Pipeline Risk Management Company
• Four brokers penalized by mortgage commissioner
• February home sales climb 21% over 2003
• Two-thirds of Canadians believe they will own their dream home
Mortgage News
Mortgage lending rise boosts Widows Bank profits - 2004-03-10
Scottish Widows Bank today revealed that its annual profits had more than doubled following a 16 per cent rise in mortgage lending.

The Edinburgh-based banking arm of Lloyds TSB-owned Scottish Widows reported a pre-tax profit of £16.5 million for 2003, up from £8.1m in 2002, representing its eighth consecutive year of profit since its launch in 1995.
Read the full story at Edinburgh Evening News
 
Study downplays housing shortage - 2004-03-10
Challenging conventional wisdom throughout the state, a new study found California's housing shortage - widely estimated at between a half million and more than a million units -- has been widely overstated.

They note that lower mortgage rates have softened the blow of price increases since 2000, and home building has been rising while job growth has tapered off.
Read the full story at sacbee
 






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