California's Housing Affordability Index at 19 percent in December - 2005-02-10
The percentage of households in California capable of affording a median-priced home stood at 19 percent in December, a 4 percentage-point drop compared with the same period a year ago when the Index was at 23 percent.

The minimum household income needed to acquire a median-priced home at $474,480 in California in December was $110,530, based on an average effective mortgage interest rate of 5.76 percent and assuming a 20 percent downpayment. T
Read the full story at [Press Release] Business Wire via Yahoo! Finance

Rate Reprieve for Subprime Mortgage Lenders - 2005-02-10
Orange County’s subprime mortgage lending industry may be breathing a bit easier. The yield on a 10-year Treasury bond rose back above 4% Thursday, after dipping below the key benchmark the day before.

Long-term rates have been maintaining course or falling for weeks, while short-term rates are rising. Subprime lenders, who make loans to people with imperfect credit, fear a narrowing gap between the two types of rates.
Read the full story at Orange County Business Journal