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Mortgage News for Wednesday - January 26, 2005

More Mortgage News
• 2 IPD officers accused of mortgage fraud
• More people behind in mortgage
• US mortgage applications, rates fall last week-MBA
• Wells Fargo Home Mortgage Introduces 10-Year ARM With Interest-Only Feature
• Mortgage firm to add office
• US senators offer mortgage giants Fannie, Freddie regulatory bill
• Sales of previously owned homes on the rise
• Home Prices Keep Rising
• New Homes Vs. Used Homes
• Orlando Housing Prices Rose Three Times National Average
Mortgage News
New Homes Vs. Used Homes - 2005-01-26
You've been thinking about it for a while, and you think the time is finally right to buy a new home.

However, an important decision must be made -- deciding whether to build a new home or buy a used home. Both have pros and cons. Here are some tips to help you decide.

# New homes must adhere to local building codes and regulations and already meet the strict criteria imposed by today's mortgage companies.
Read the full story at WESH 2
 
Orlando Housing Prices Rose Three Times National Average - 2005-01-26
Central Florida's housing market is exploding. In fact, in Orlando alone, home prices shot up 16 percent over last year, WESH NewsChannel 2 reported.

Orlando housing prices have climbed about 16 percent in 2004 -- close to three times the national average. The local market shows no sign of cooling off.

"This is going to be another record year, I believe, even though interest rates will probably go up a little bit," said Realtor Jamie Disalvatore.
Read the full story at WESH 2
 






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