Bush Highlights Tax Cuts as Engine for Home Sales - 2004-03-30
President Bush declared on Saturday his tax cuts helped start the recent surge in home sales that has helped push homeownership to record levels in the United States.

"More Americans can afford a new home. Incomes are rising. The unemployment rate is falling. Mortgage rates are low. And because of tax relief, Americans have more to save, spend and invest -- and that means millions of American families have moved into their first homes," Bush said.
Read the full story at Reuters.com

Low mortgage rate energize real estate figures - 2004-03-30
Despite a stale real estate market along the Front Range, investors snapped up almost $1.8 billion in offices, retail, apartments and industrial properties last year.

The cap, or capitalization rate, is the net operating income divided by the sales price.

"The lower the cap rate, the higher the value," Neiman said. "Low mortgage rates are driving down cap rates."
Read the full story at Rocky Mountain News.com