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Mortgage News for Thursday - March 3, 2005

More Mortgage News
• 30-year mortgage rates at 5.79%, highest this year
• Seattle FHLB to exit Mortgage Purchase Program
• Better Business Bureau Warns About Possible Mortgage Scam
• Failed Eron Mortgage pitched high return, low risk to investors, court hears
• Mortgage Giant Fannie Mae faces billions more in new losses
• Mortgage brokers get real-time real estate loan approval
• Area home prices seem stable
• U.S. economy sound but Fed worries about budget
• U.S. Economy: Services, Claims Data Show Labor Market Strength
• From mortgage refinancing boom to niche boom; banks are becoming more specialized
Mortgage News
Area home prices seem stable - 2005-03-03
The air may getting set to seep out of hyper-inflated housing markets on either coast, but Nashville and other areas closer to the nation's heartland shouldn't be as concerned about seeing home prices fizzle, a new study suggests.

The analysis comes courtesy of a 2005 Risk Index by PMI Mortgage Insurance Co., one of the nation's biggest providers of home mortgage insurance.
Read the full story at The Tennessean
 
U.S. economy sound but Fed worries about budget - 2005-03-03
The U.S. economy is on a solid footing and inflation is stable, but the country's huge budget deficit and low savings rate are significant problems that must be addressed, Federal Reserve officials said on Wednesday.

Federal Reserve Chairman Alan Greenspan warned about the dangers the budget shortfall weighing on the economy in his testimony to the House of Representatives Budget Committee.
Read the full story at Reuters
 






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