Bay Area home prices stay high - 2005-01-19
Bay Area home sales posted their second strongest December on record as prices remained at their peak, real estate information service DataQuick Information Systems says.

A year ago, we were more optimistic about 2004 than the majority of the housing forecasts. Still, we didn't expect to see 2004 end as strongly as it did. Then again, most predictions were that mortgage interest rates would be higher at the end of the year, not lower.
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Mortgage giant Fannie Mae cuts dividend in half - 2005-01-19
A month after Fannie Mae said it intends to sell $5 billion in new preferred stock to shore up finances, the mortgage giant says it will slash the dividend it pays its common shareholders in half "to accelerate an increase in the company's capital."

The move comes after the Office of Federal Housing Enterprise Oversight indicated Fannie Mae was significantly underfunded. The office has approved the reduction in dividends.
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