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Article: Orange County, Calif., mortgage rates drop after Fed rate hike.
- Article from:
- Orange County Register (Santa Ana, CA)
- Article date:
- July 1, 2004
CopyrightCOPYRIGHT 2004 The Orange County Register. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Hang Nguyen
Jul. 1--Orange County mortgage rates dropped a tad Wednesday after the Federal Reserve raised interest rates.
That's the short-term effect of the Fed's move. If the Fed raises rates again later this year -- as is expected -- it might push up mortgage rates enough to slow the price appreciation that O.C. homeowners have enjoyed. Home prices appreciated at an annual rate of 36 percent in May, which is unlikely to be repeated.
If the 30-year mortgage reaches 8 percent -- about two percentage points higher than today -- it likely would significantly affect the housing market, experts said.
Because the Fed had clearly ...
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... ... Nguyen, The Orange County Register, Calif ... Mar. 19--Mortgage rates have dropped below 5 percent in Orange County and once again ... improves. "Mortgage rates are probably ... see more of The Orange County Register, or ...
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