|
|
Article: Mortgage bankers receive warning on investor-driven price increases.
- Article from:
- Contra Costa Times (Walnut Creek, CA)
- Article date:
- October 26, 2004
CopyrightCOPYRIGHT 2004 Contra Costa Times. 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)
|
Byline: Rick Jurgens
Oct. 26--SAN FRANCISCO -- Six thousand mortgage bankers, flush from the nation's biggest-ever wave of financing activity, gathered here Monday to hear news that wasn't nearly as sunny as the weather.
Franklin Raines, chief executive of Fannie Mae, a government-sponsored company that provides capital to home lenders, warned of signs of growing speculative activity in already red-hot housing markets.
Raines dismissed theories that see a national "bubble" of excessively high housing prices. Such dismissals have become virtually obligatory for industry leaders. But Raines warned that there could be trouble in some local ...