State's housing affordability holds - 2004-03-04
The percentage of households in California able to purchase a median-priced home remained at 23 percent in January, a 6 percentage-point drop compared to the same period a year ago when the index was at 29 percent.

The minimum household income needed to purchase a median-priced home at $405,720 in California in January was $94,020, based on a typical 30-year, fixed-rate mortgage at 5.70 percent and assuming a 20 percent downpayment.
Read the full story at Sacramento Business Journal

Fort Worth firm establishes Austin mortgage office - 2004-03-04
Austin mortgage professional Houston Morford, formerly of Advantage Mortgage Network Inc., will head the new Austin office of Fort Worth-based independent mortgage banking company BMC Mortgage Services Inc.

Marshall Boyd, BMC Mortgage's president, says a forecast for continued low mortgage rates and new home starts in Texas prompted the company's expansion into the Austin market.
Read the full story at Austin Business Journal