AccessBanc: New 5 Year Fix-Pay Adjustable Rate Mortgages - 2004-07-20
For the first time, AccessBanc, one of the biggest mortgage brokers in the Bay Area, is offering a new type of mortgage loan -- a five-year fix-pay adjustable rate mortgage.

The homeowner's monthly payment will be fixed based on an interest rate of 1.75% for five years with a 3.24% APR. That means you can maximize purchasing power while keeping monthly payments very low. Loan amounts available up to $1,500,000. Plus, there are no points!
Read the full story at San Jose Mercury News

Demand from first-time home buyers and empty-nesters fuels the condo market - 2004-07-20
As their children move out of the family home, many baby boomers are also leaving the nest. People 45 years and older make up 42 percent of the nation's condominium buyers, according to the National Association of Realtors (NAR).

There's little fear the condo boom will bust, but economists say appreciation may moderate as mortgage rates rise. Building is more restrained than it was when an oversupply led to a market collapse in the early '80s.
Read the full story at Builder Online