March 2004
Investment Dealers' Digest;3/29/2004, Vol. 70 Issue 13, p50
Trade Publication
This article presents developments related to investment banking in real estate industry in the U.S. The feverish pace of new home mortgage applications could mean that home sales wilt rise further in 2004. The Mortgage Bankers Association's index of mortgage applications for new home purchases has risen 26% year-over-year so far in 2004. As home ownership continues to rise, residential vacancy has been climbing as well, hitting a record vacancy rate of 10% in Q4 2003-the highest vacancy rate 1956. Home ownership in the same quarter rose to a record 68.5% due to a 40-year-record low in interest rates.


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