Mortgage rates rise, but people still refinancing 2005-09-22
NEW YORK (Reuters) — Mortgage rates rose last week, but failed to deter borrowers from refinancing their existing home loans, an industry trade group said Wednesday. Fixed 30-year mortgage rates rose to an average of 5.81%, excluding fees, in the week ended Sept. 16, compared with 5.72% in the previous week, the Mortgage Bankers Association said. The fixed 30-year mortgage rate, considered an industry benchmark, is still below its 2005 high of 6.08%, reached in late March. It is above its 2005 low of 5.47%, reached in late June; a year ago, the rate stood at 5.66%. Fixed 15-year mortgage rates last week averaged 5.38%, up from 5.29% the previous week. Rates on one-year adjustable-rate mortgages (ARMs) increased to 4.94% from 4.82%. Source of article.... http://www.usatoday.com/money/perfi/housing/2005-09-21-mortgages_x.htm

Real estate market expected to cool off 2005-09-22
California's housing market is likely to cool off in 2006, with fewer sales than this year and slower appreciation than in the past few years, according to a forecast by the California Association of Realtors. The forecast, scheduled to be released today, predicts that the median sales price statewide will increase 10 percent in 2006, to $575,500. The number of predicted sales statewide for 2006 is 630,610, down 2 percent from this year's estimated record high. Source of the article... http://www.mercurynews.com/mld/mercurynews/business/12697605.htm