Technical Olympic USA, Inc. (TOUS): Subprime Rate Five-Year Fix Agreed by U....

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deadcat123

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Wednesday, 12/05/2007 5:17:02 PM

Wednesday, December 05, 2007 5:17:02 PM

Subprime Rate Five-Year Fix Agreed by U.S. Regulators (Update7)

http://www.bloomberg.com/apps/news?pid=20601087&sid=asetzdsdmBUE&refer=home

This definitely going to help Florida housing market, where TOUSA will benefit a lot!

also from MSN Money

http://articles.moneycentral.msn.com/Investing/Dispatch/071205markets.aspx

Mortgage applications jump
The number of mortgage applications rose last week by 22.5%, according to the Mortgage Bankers Association.

The association's index showed a level of 791.8, the highest level since July 2005. The Refinancing Index rose 31.9%, and the group's seasonally adjusted Purchase Index rose 15.2%.

The average interest rate on a 30-year fixed-rate mortgage fell to 5.82% -- the lowest rate in two years and the biggest weekly drop since 2003 -- from 6.09% the week before. The average interest rate on one-year adjustable-rate mortgages rose to 6.28% from 6.24%.

Housing bottom soon? imo