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Mortgage News for Friday - March 26, 2004

More Mortgage News
• So Many Choices: Mortgages
• Mortgage rates energize February home sales
• Mortgage Industry Turns To IT For Faster, Cheaper Closings
• Hawaii mortgage rates 5% to 5 1/8%
• Broker sentenced for mortgage fraud
• Mortgage lending set to rise again
• Low Mortgage Rates Spark Rise in Denver-Area Home Sales
• Five Reasons To Get a Pre-Approval Letter For Mortgage
• Interest-Only Mortgages Create Interest Among Home Buyers
• Freddie Mac, Housing Authority of Fulton County Launch $40 Million Effort to Boost Minority, Affordable Homeownership
• New homeowners surprised by escrow
• Despite prices, home sales remain on record pace
• Home resales on the rise after mortgage rate drops
• Strong Real Estate Market in California Causes Bidding Wars
• Tampa, Fla.-Area Housing Boom Just Keeps Going and Going
• Consumer Spending Grows by 0.2 Percent
• 1-year Adjustable Rate Mortgage lowest on record
• Preparing for closing: Understanding the process
• Home prices likely at top
• Homebuyers' heartache
• County's home prices continue to climb
• Q4 US growth slows to 4.1%; jobless claims up
• Warning on mortgage loans to house buyers
• Bush woos Hispanics voters in New Mexico
Mortgage News
Low Mortgage Rates Spark Rise in Denver-Area Home Sales - 2004-03-26
Home buyers placed 3,099 homes under contract, according to a pair of real estate reports issued Tuesday. Sales jumped 33.2 percent from March 2003 and 11.8 percent from February.

Brokers attributed the rising demand to a combination of low mortgage rates, increased consumer confidence and seasonal factors. They noted that sales last March were dampened by the start of the war in Iraq and a blizzard that kept potential buyers out of the market for several days.
Read the full story at Builder Online
 
Five Reasons To Get a Pre-Approval Letter For Mortgage - 2004-03-26
Most home buyers know they should get a mortgage pre-approval letter from a lender before they begin seriously shopping for a home. But the reasons for this advice aren’t always obvious.

1. A pre-approval letter is more reliable than a pre-qualification letter. Getting a pre-qualification letter is easy. Ask your real estate agent to put you in touch with a mortgage broker or lender.
Read the full story at Berkeley Daily Planet
 






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