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Mortgage News for Wednesday - March 1, 2006

More Mortgage News
• U.S. MBA's Mortgage and Refinance Mortgage Applications Lower
• FBI nabs pair at mortgage closing table
• U.S. Economy: Consumer spending shows big gain
• How many ways can mortgage go wrong? Plenty
• The older you are, the more a reverse mortgage will pay you
• Area housing prices still rising faster than national average
Mortgage News
The older you are, the more a reverse mortgage will pay you - 2006-03-01
Many older people are turning to reverse mortgages, but due to high fees it's best to wait until you really need the money. Like any mortgage, a reverser is a loan that sets up the property as collateral. The difference is that the borrower doesn't have to make monthly loan payments or have an income to qualify, although he or she must be at least 62.
Read the full story at Buffalo News
 
Area housing prices still rising faster than national average - 2006-03-01
There is plenty of talk about a less busy housing market, but prices are still climbing, and prices in the Washington area continue to be among the nation's fastest-rising.
A quarterly report from the Office of Federal Housing Enterprise Oversight revealed that prices nationwide ended the 4th quarter of 2005 was 12.95 percent.
Read the full story at Washington Business Journal
 






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