Refinance Mortgage: Home renovations ebb as rates climb - 2006-01-17
The home-renovation boom, helped by low mortgage rates that made home-equity loans popular and cheap, seems to be slowing down. Housing-industry analysts revealed that one major generator of renovation spending has been low mortgage rates, which have encouraged many homeowners to do a refinance mortgage and take out cash for renovations. Due to higher mortgages rates, less people are taking out loans.
Read the full story at Contra Costa Times

Wells Fargo profit up 8 percent amid weakening mortgage demand - 2006-01-17
Wells Fargo & Co.'s fourth-quarter profit climbed 8 percent as the nation's fifth largest bank reacted to weaker demand for home mortgages and a recent change in federal bankruptcy law that pushed up its consumer loan losses. As long-term interest rates have nudged up in recent months, fewer people are purchasing homes or seeking to refinance their existing mortgages.
Read the full story at Monterey County Herald