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04/28/2005: "Rates, Housing, and Other Musings"
Here are a few little news tidbits.
According to Bankrate.com, mortgage interest rates were lower this week. The 30-year fixed-rate dropped to 5.33 percent, and the 15-year to 4.93 percent.
At the same time, the National Association of Realtors (NAR) reported that existing homes sales climb by 1 percent in March to the third-highest sales pace on record. The median price for a home sold in March gained 11.4 percent from a year ago. This was much higher than most experts had predicted.
For those that are college bound, next semester's Business Ethics textbooks just got a new case study as the top executives at Homestore.com were indicted today on charges of defrauding investors. Homestore is the parent company to Realtor.com, the largest real estate website in the world.
And in the random thought category, after watching the NFL draft last weekend you just have to wonder how long it will be until Kyle Turley puts his St. Louis home on the market.
On the web:
Mortgage Rates- http://www.bankrate.com
NAR Story- http://www.realtor.org
Homestore News- http://www.inman.com/inmannews.aspx?ID=45963
Kyle Turley in all his glory- http://www.cracksmoker.com/NFL/NFL%20TurleyK.htm
