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UPDATE

Briefly

October 12, 2003|From Times staff and wire reports

* The National Assn. of Realtors raised its forecast for 2003 U.S. home sales to 6.94 million after the recent retreat of mortgage rates from a one-year high. That would be up a little more than 6.1% from last year's record 6.54 million. A month ago, the group projected 2003 sales of 6.79 million sales.

* Mortgage Bankers Assn. of America said its index measuring the number of applications for U.S. mortgages rose for a second week as the interest rate decline sparked more home purchases and refinancing.

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