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Mortgage News for Thursday - March 10, 2005

More Mortgage News
• U.S. 30-Yr Mortgage Rate Rose to Highest Since August
• Mortgage lender’s suit claims fraud
• Rising mortgage rates may cool British housing market
• Self-employed mortgage holders paying 2% too much
• Retired and mortgage free at 34
• American household wealth surges to new record
• U.S. Economy still forging ahead, Fed finds
• Flexible friends take years off home loans
• Real estate prices rise in Twin Cities region
• Real estate affordability drops 5% in California
Mortgage News
Real estate prices rise in Twin Cities region - 2005-03-10
For the third consecutive year February's number of closed sales of residential homes in the 13-county Twin Cities market has stayed relatively unchanged.

The Federal Reserve is going to be very careful about any hikes in the interest rates so inflationary pressure will remain under control, we're experiencing a relatively healthy economic expansion, and the active Realtors are being more aggressive with their marketing and price recommendations to sellers."
Read the full story at Inman.com
 
Real estate affordability drops 5% in California - 2005-03-10
Homes are becoming more out of reach for an increasing number of prospective homeowners in California, according to a January housing affordability report released today by the California Association of Realtors.

Approximately 18 percent of the state's households could afford to buy a median-priced home in the state in January, compared to 23 percent of households in January 2004, the association reported. The Housing Affordability Index slipped 1 percentage point from December 2004 to January 2005.
Read the full story at Inman.com
 






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