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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
U.S. Economy: Services, Claims Data Show Labor Market Strength - 2005-03-03
Increase in U.S. services accelerated last month and initial jobless claims dropped to approach a four-year low.

``All cylinders are firing in the U.S. economy right now,'' said Jeff Taylor, chief executive of New York-based Monster Worldwide Inc., in an interview. ``Things look pretty good out there.'' Monster is the operator of the biggest Internet job service.
Read the full story at Bloomberg
 
From mortgage refinancing boom to niche boom; banks are becoming more specialized - 2005-03-03
The banking industry is transforming itself, experts say, and a prime example can be seen in the Ballantyne area.

The National Bank of Arizona has set up a new mortgage center there that focuses on a very specific type of customer throughout the Southeast: self-employed people who have recently moved. Many banking experts believe that the mortgage refinancing boom is over. But they say the niche boom is just starting.
Read the full story at News 14 Charlotte
 






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