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Mortgage News for Sunday - March 21, 2004

More Mortgage News
• Low rates fuel real estate bubble fears in U.S.
• Going mobile an option in pricey housing market
• Some mobile home owners feel stuck as higher rents hinder sales
• Home buying more difficult
• Great homes, less greenhouse gases
• S. Floridians pushing up cost of second homes
• Booming house prices turn off buyers
• Here's a plan of action for saving at age 50
Mortgage News
Low rates fuel real estate bubble fears in U.S. - 2004-03-21
Network engineer Louie Guimmule wasn't going to have his chance taken away to purchase a brand new $1-million (U.S.) townhouse going up in Alexandria, Va.

The newspaper pointed out that consumers and homeowners have become addicted to debt. Homeowners can get 30-year mortgages at less than 6 per cent and car loans at near zero. That sent mortgage debt soaring to $6.8-trillion last year from $4.9-trillion just two years earlier.
Read the full story at The Globe and Mail
 
Going mobile an option in pricey housing market - 2004-03-21
David Farrell is painfully aware of the expensive pricing of housing around his native Peninsula, so he purchased a mobile home in Redwood City 10 years ago, and never looked back.

Top quality manufactured homes go for approximately $150,000 to $200,000. What must be weighed is that besides a monthly mortgage of, say, $900 to $1,000 on a $100,000 mobile home, a space rent of $600 or more must also be paid.
Read the full story at The Argus
 






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