California Mortgage News

Existing home sales soar in Aug. 
USATODAY.com via Yahoo! News - Sep 27 4:16 AM
Defying expectations, sales of previously owned homes rose in August to the second-highest level on record, with prices rising at the fastest pace in 26 years.

WellPoint: Bulking Up Even More 
BusinessWeek - 1 hour, 8 minutes ago
In buying WellChoice, the health-care giant gets access to the key New York market. It’s also a further step to being a nationwide outfit

As Home Sales Surge, Greenspan Warns 
Washington Post - Sep 27 3:57 AM
U.S. home sales and prices surged again last month, an industry group reported today, as Federal Reserve Board Chairman Alan Greenspan warned that the growing use of riskier new mortgages could result in “significant losses” for lenders and borrowers if the market cools.

Terrorism Digest: Inmate pleads not guilty in plot targeting U.S. sites 
Seattle Times - 31 minutes ago
A state inmate accused of masterminding a terrorism plot against U.S. military sites appeared yesterday before a federal judge who entered…

Greenspan Says Speculation Adds to Home-Price Surge (Update2) 
Bloomberg.com - Sep 26 11:59 AM
U.S. Sept. 26 (Bloomberg) — Federal Reserve Chairman Alan Greenspan said speculative home buying may be driving the surge in housing prices and creating greater risk for homeowners who rely on interest-only mortgages.