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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
1-year Adjustable Rate Mortgage lowest on record - 2004-03-26
Rates on 30-year and 15-year mortgages edged up this week, while rates on one-year adjustable mortgages dipped to their lowest level on record.

The average rate on benchmark 30-year, fixed-rate mortgages rose to 5.40 percent, up from 5.38 percent last week, mortgage giant Freddie Mac reported Thursday in its weekly nationwide survey of mortgage rates.
Read the full story at Pioneer Press
 
Preparing for closing: Understanding the process - 2004-03-26
This is it -- the day you close on your new home! All parties will sign the papers officially confirming the deal and ownership of the property will be transferred to you.

The day before closing, be sure to gather all of the paperwork you have received throughout the home-buying process: good faith estimate, contract, proof of title search and insurance if necessary, flood certification, proof of homeowners and private mortgage insurance, home appraisal and inspection reports.
Read the full story at Bankrate.com
 






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