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News Affecting Mortgage Interest Rates for the Week of 4/05/2010

5 April 2010

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     This past week we saw mortgage interest rates move higher as the Fed’s program to purchase $1.25 Trillion of Mortgage Backed-Securities came to an end on Wednesday, March 30, 2010. Though interest rates did go higher, mortgage interest rates are still at historical lows.      And dont’ forget that ending this month is the 1st Time HomeBuyer Tax [...]

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News Affecting Mortgage Interest Rates for the week of 3/29/10

29 March 2010

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     Last week was one of ups and downs for mortgage interest rates. The Treasury auction didn’t fare well this past week. And as the Fed winds towards the finish line of buying mortgage backed-securities (this Wednesday, March 31, 2010), we may be seeing higher interest rates if other investors don’t step in.        Looking down the [...]

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First Time Home Buyer Tax Credit

9 March 2010

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     The First Time Home Buyer Tax Credit will be ending in a little over 7 weeks. For some, 7 weeks seems like a long time but in actuality, it isn’t. And for some buyers, they could be watching that $8000 tax credit slip through their fingers.       This tax credit ends on April 30th. What that means [...]

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Week of 3/01/2010 MMG Week in Review

1 March 2010

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     This past week was one of President Obama speaking about Health Care and Bernanke, and Geithner reporting to Congress about the economy and banking reform.       The GDP reading was as exepcted but looking at the numbers especially consumer spending was which worse than 3rd Quarter 2009 when we had Cash for Clunkers.      Also Existing Housing Sales were down [...]

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Jobs, Jobs, Jobs

4 December 2009

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     This week was the week for the jobs reports-ADP Employment Report, Initial Jobless Claims, and the all important, Jobs Report. And all moved the bond market down causing mortgage interest rates to start to climb.      The ADP Employment Report came in slightly higher than expected but, still, it was the least amount of job losses [...]

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Week of 11/30/09 MMG Week in Review

30 November 2009

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      Last week was a short week with the bond market closed for Thanksgiving as well as shorten days on both Wednesday and Friday. With the shorten week, the market was busy with the various economic reports being released as well as 3 Treasury auctions and the Federal Open Market Committee releasing their last meeting’s [...]

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Week of 11/23/09 MMG Week in Review

23 November 2009

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      What a week-CPI, Core CPI, Housing Starts, and Mortgage Applications were all reported this past week. And, let’s not forget what is most needed, jobs. Though Initial Jobless Claims went down, this weeks MMG looks deeper into the numbers.        This coming week will be short but busy! We start the week off with Existing Home Sales and end [...]

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