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Mortgage News for Friday - January 27, 2006

More Mortgage News
• Mortgage group warns on risky refinance mortgage ads
• U.S. economy grows at slowest pace in 3 years
• Contractors feel chill in home remodeling
• To pay or not to pay off your mortgage
• U.S. Economy Hits the Brakes
• Investors tapping into real estate
Mortgage News
U.S. Economy Hits the Brakes - 2006-01-27
The U.S. economy struck a wall in the fourth quarter, with an initial reading on gross domestic product showing annualized growth of only 1.1%. Tepid spending in the wake of Hurricane Katrina was the primary cause. Expansion in the fourth quarter was the weakest since the fourth quarter of 2002.
Read the full story at TheStreet.com
 
Investors tapping into real estate - 2006-01-27
The real estate boom is transforming houses into lucrative assets and homeowners into investors who no longer viewed the home as just a place to live any more, experts declare. Unexpectantly, it's the Generation Xers born in the 1960s and 1970s who are using real estate to boost their investment portfolios. According to a recent survey, forty-three per cent of those who said they intended to invest in the next two years were under the age of 40.
Read the full story at Toronto Star
 






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