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Show The Salt Lake Tribune Money Scerebeard Consumer Jean rates 30-year 15-year USA TODAY For most Americans, the family home was a better investment than stocks again Others ro in 2001. The national median sale price for homes — halfsold for more,halffor less — this year will be $146,600, up 5.5 percent from a year ago, the National Association of Realtors (NAR)says. By contrast, the Standard & Poor’s 500 Car Personal Thisweek 725. 672 578 850 1456 lastweek 7.18 668 570 847 1455 lastyear 7.20' 685 7.02 964 1524 “Average has changad trom a fixed rate card to a variable rate card. stock index is down 13.0 percent this year Monitor's weekly survey of the 10 largest banks and S&Ls This year marks the secondconsecutive year, and the seventh year since 1980, that homes have appreciated faster than the S&P’s broad measure ofbig-companystock MMDA* “months ‘T-year 2-1/2-year S-year This week 1.45 188 Last week 146 490 Last year 242 $17 * Money Market DepostAccounts 2.13 2.18 537 290 399 292 4.02 5385.64 Yields on biggest money funds Here are the 15 biggest money-market mutual funds Fund (ranked by size) Fidelity Cash Reserves Vanguard MMRVPrime Port Schwab Money Market rind Schwab Valueaan Smith Bamey Casch PonClans A Seerfych CMAMoney Fund This week 1.96% 215% 159% 1.90% 157% Last week 2.03% 220% 1.65% 1.96% 1.64% 2.13% “What's unusu most unusual about [increasing home values] this year is thefact we’re in a recession.” National performance. “What’s most unusual about [increas- ing home values]this year is the fact we're in a recession,” says NAR economist Lawrence Yun. The NAR estimates that three-quarters of homeowners have more wealth in homeequity than in securities. And in 2001, rising home values coupled to 6 mos. ago 3.99% 4.08% 3.72% 4.01% 3.83% 4.19% LAWRENCEYUN ion of Realtors of homeowners to convert part of that equity into cashby refinancing. Mark Zandi, chief ‘economist at Economy.com, estimates that about onefifth of all mortgage debt has been refinanced this year. In the process, about $75 billion in homeequity has been cashed out. Economists agree that the infusion of cash has helped soften the recession by permitting consumers to spend more. The NAR’s median sales figure isn’t the certificate of deposit bought in the last week of 2000 and now coming to maturity would haveyielded about5.4 percent, says com. Thi returnona money market mutual fund during 2001 would be about 3.3 percent, says performance trackerLipper. Commercial real estate was lucrative in 2001, too. The index of the National Association of Real Estate Investment Trusts was up13.6 percent through Monday. Over the long haul, homes are slow but steady performers. NAR’s Yun says median prices have not dropped year-to-year governmentand by giant mortgage investor Freddie Macare ontrack this year to on a national basis in the past three decades. With the labor market continuing to soften, Yun says home prices in 2002 will Possibly 7 percentto 8 percent. probably revert to a more traditional growth, close to the inflation rate. only measure of homeappreciation. Home price indexes calculated by the federal with low borrowing costs prompted legions Home values this year have easily outpaced not only the S&P S00, but all the broad measures of stock-market performance. The competition is a bit close when home values are compared with other, less speculative investments. A one-year bank through Wednesday. nee louroetmneene Date E7 Sunday, December 30, 2001 As Investment Option, Home Is Where the Wealth Is er eee mas mereey of See 10 iepeat bestia iedG83 nthe 10 largest metro areas. are conventional loans 80 percent loan-to-value. Car loans are for 20 percent down, \, New car Personal loans are for $3,000 24-month unsecured loan. Date BUSINESS show even stronger increases in values — UBS PaineebberFa MA MF/MM Port 1. R Wells Fargo Gash Investment MMF Money Market Fund/ClassA JPMorgan Prime MMF Avg. taxable money fund WHERE IS IT? 1.88% 1.90% 1.66% 1.58% 1 Test your knowledge of Utah’s outdoors every Tuesday in the Daybreak section February 7, 2002 - February 25, Preserve your Olympic memories with a 19-day homedelivery* subscription to he Salt LakeTribune and receive our Winter Sports Scrapbook $4 for only *Homedelivery not available in all areas. | NOW 801-237-2900 Toll free 1-800-662-9076 NEEDA POST-HOLIDAY LIFT? 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