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Thursday, June 09, 2005


New and existing home sales expected to hit records in '05 

Realtors: Continued low mortgage rates should lift existing- and new-home sales to records in '05.

NEW YORK (CNN/Money) - Home sales are poised to set their fifth straight annual record, according to the latest forecast from an industry trade group.

The National Association of Realtors said continued low mortgage rates have supported strong sales longer than it had previously forecast.
[...]
The use of nontraditional mortgages, such as interest-only loans, have grown in the last year and the realtors said those new mortgage products have also helped support sales. It did warn that the new products pose increased risk to home buyers.

New and existing home sales expected to hit records in '05 - Jun. 9, 2005

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