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Mortgage News for Thursday - February 10, 2005

More Mortgage News
• US 30-year mortgage rates lowest since early April
• Mortgages: Two sides to appraisal technology debate
• Mortgage Lenders Chafe at Service Fee
• Money minute: Don't ignore rising interest rates
• Housing market to 'stay flat'
• U.S. economy seen growing 3.6 percent in 2005
• Hispanics target of ‘predatory' mortgage loans, study says
• Many Homebuyers Choosing Adjustable Rate Mortgages
• California's Housing Affordability Index at 19 percent in December
• Rate Reprieve for Subprime Mortgage Lenders
Mortgage News
Mortgage Lenders Chafe at Service Fee - 2005-02-10
Such is the power of Fannie Mae and Freddie Mac in the mortgage market that the two government-formed titans are able to charge a pair of esoteric fees on lenders that end up being paid by nearly everyone who purchases a house.

Neither fee is well-known. One relates to the cost of having Freddie or Fannie guarantee a loan from default, something they do for the vast majority of mortgages written in the U.S.
Read the full story at TheStreet.com
 
Money minute: Don't ignore rising interest rates - 2005-02-10
You know what they say, a quarter-point here, a quarter-point there, and pretty quickly you're talking about real money. After the Fed's sixth quarter-point increase in short-term interest rates in eight months, consumers may start feeling a real pinch.

Mortgages: Begin with most Americans' biggest investment, their house. Short-term adjustable rate mortgages have been very popular for the past few years, but ARM rates have been rising in step with the Fed's increases.
Read the full story at AZ Central.com
 






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