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10/29/2007 Chicago-area MLSs announce data-sharing deal
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Two Chicago-area multiple listing services announced the creation of a "mirrored database" that allows each MLS to display a combined inventory of property information from both MLSs to their members.
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10/29/2007 Comparing mortgage rates online
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10/29/2007 California's First Home Price Decline Since 1997
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California home prices fell year-to-year for the first time in 10 years in September. The fall came with a record month-to-month sales slump, accompanied by double-digit home price plunges largely in the south but also in the state's capital city.
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10/29/2007 Democrats' New Mortgage Reform Bill Brimming with Consumer Protections.
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The long-awaited Democratic solution to the subprime crisis debuted on Capitol Hill last Wednesday to raves and catcalls. But proponents and critics agreed on one thing: If enacted, House Financial Services committee chairman Rep. Barney Frank's bill would transform major portions of the home loan transaction for prime and subprime borrowers alike.
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10/29/2007 NAHB Lobbying to Keep Feds Out of the State Building Code Process; Energy Efficiency Should be Market Driven
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The National Association of Home Builders (NAHB) told Congress that its members are committed to encouraging greater energy efficiency in housing throughout the U.S. and strongly believe that a voluntary, market-driven approach is the best way to address the nation's residential energy concerns, not Congress federalizing the state building code process.
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10/29/2007 Fire Victims: Beware of People Seeking Opportunity-Crime
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As fires still burn throughout California, many people remain either evacuated or homeless having lost their homes to a raging blaze. Still others are fortunate enough to at least have a place to go home to -- despite the poor shape it's in when they return.
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10/26/2007 California's mortgage defaults hit record level in Q3
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Lenders initiated foreclosure proceedings against a record number of California homes in the third quarter ended Sept. 30, real estate research company DataQuick Information Systems reported today.
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10/26/2007 Job gains only thing keeping mortgages above 6%
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Mortgage rates are stuck just above 6 percent, but the key indicator of anxiety, the 10-year T-note, fell into the 4.30s. The drop was brisk following news of deepening weakness in housing and credit.
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10/26/2007 Inventory of vacant U.S. homes rises
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The total inventory of vacant homes increased about 8 percent in the third quarter compared to the same quarter last year, while the home-ownership rate remained unchanged in the third quarter after three consecutive quarterly declines, the U.S. Census Bureau reported today.
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10/26/2007 BofA exiting wholesale mortgage lending
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Bank of America Corp. will lay off 700 workers as part of a plan to exit consumer wholesale mortgage lending by the end of the year and make more loans through the retail channel.
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