Arizona home sales.LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif.--(BUSINESS WIRE)--Nov. 8, 1995--Arizona home buyers borrowed an average of $95,293 to finance their purchases during the third quarter, a real estate information service reported. A total of 12,692 home loans were made during the July-to-September period, up 1.3 percent from 12,523 for the previous quarter, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. DataQuick Information Systems. The average mortgage during the second quarter was $91,719. Mortgage sizes fluctuate depending upon a number of factors, including home prices, down payment sizes and whether or not the mortgage is an adjustable-rate or fixed-rate loan Fixed-rate loan A loan whose rate is fixed for the life of the loan. . "Arizona's real estate market is very stable compared to the markets in most other states. Prices in California are still falling, and sales levels are off in Nevada. We expect steady growth to continue in Arizona, and lending institutions Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in like that," said Donald L. Cohn, DataQuick CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . The most active lender to Arizona home buyers last quarter was Norwest Mortgage with 906 loans, up from 818 the previous quarter. The second most active lender is Inland Mortgage Service with 596, up from 514, and the third most active lender was Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. with 461, down from 515. Lending institutions target different markets. The average mortgage from Inland Mortgage Service was $81,282, while it was $124,143 for Prudential Home Mortgage. Dataquick monitors real estate purchasing, financing and foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. activity nationwide. The company, which has an office in Phoenix, provides information to consumers, lending institutions, title companies and industry analysts. The numbers cover Maricopa, Pima, Pinal and Yavapai counties. These counties account for 84 percent of Arizona's real estate business. NOTE TO EDITORS: More detailed lender rankings and mortgage loan activity at the city/county level are available. For more information call John Karevoll at 909/867-9534. CONTACT: John Karevoll, 909/867-9534 |
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