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Mortgage News for Friday - January 21, 2005

More Mortgage News
• Mortgage lending 'remains sluggish'
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• Fannie Mae: Home sales to fall in 2005
• Reverse mortgage may help seniors
• Meeting planned for defrauded homebuyers
• U.S. Consumer Confidence Unexpectedly Fell in January
• For mortgage broker, change means success, happiness
• Economists Predict a Robust 2005; But Home Sales, Mortgage Activity Expected to Dip
• State home prices rise in December
• Sales of Owned Homes Hit High
Mortgage News
State home prices rise in December - 2005-01-21
Home sales in California finished 2004 on a high note, as buyers continued to seize on low interest rates to buy up homes, helping to drive prices to record levels, a real estate analyst said.

While some signs of a cool-down emerged in the market toward the end of the year, particularly in areas like Orange County, which saw sales slow as median home prices blew past the half-million-dollar mark, mortgage interest rates remain at historic lows and demand for housing still outstrips supply.
Read the full story at The Woodland Daily Democrat Online
 
Sales of Owned Homes Hit High - 2005-01-21
Sales of previously owned homes in November saw their best month on record as low mortgage rates enticed buyers to live the American dream.

The National Association of Real-tors declared Wednesday that sales, at a seasonally adjusted annual rate, totaled an all-time monthly high of 6.94 million units, a 2.7 percent increase from October's pace.
Read the full story at Builder Online
 






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