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News Affecting Mortgage Interest Rates for Week of 5/17/2010

17 May 2010

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      Like the song at the Disney’s attraction, it is definitely a “Small World After All”.       The Euro zone is still dealing with Greece’s economic woes and along the way, Spain, Italy and Portugal also are experiencing economic stability. This news had money flowing into the bond market as the European Central Bank unveiled [...]

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Mortgage Interest Rates and FOMC statement

16 March 2010

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      Today’s FOMC statement’s language was basically the same as their January statement. The Federal Fund Rate will stay at this present level to help the economy continue to come out of this recession. The big difference in the language was with the housing industry and mortgage interest rates.      The housing industry has been slow to recovery in [...]

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News affecting Mortgage Interest Rates for week of 03/15/10

15 March 2010

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     Mortgage interest rates had a fairly bumpy week even though we weren’t too many economic reports released. But economist  as well as some Fed members voiced their concern over the not here yet inflation last week. Will the Fed have the will to raise short term interest rates to subdue inflation due to our raising debt [...]

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Week of 1/18/10 MMG Week in Review

19 January 2010

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     Last week, the Fed had one of their largest purchases of Mortgage Backed Securities (MBS) compared to other recent weeks. Out of the $1.25 Trillion they were given to purchase MBS, they now only have $113 Billion left. As this winds down, mortgage interest rates will most likely start climbing back to normal levels. [...]

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Week of 12/21/09 MMG Week in Review

27 December 2009

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     What a busy week we had in economic reports and the FOMC Policy Statement! But it was the FOMC Policy Statement that we must take a closer look at. The Fed has stated that it will not extend their purchasing of Mortgage Backed Securities. This is important to note as as the Fed winds [...]

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FOMC Meeting’s Policy Statement (12/15-12/16/09)

16 December 2009

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      After almost two days of the media, news pundits, and economists all weighing in what the Fed will do, the Fed left their short term, Fed Fund Rate, the same.       On the housing side, the Fed stated: “The housing sector has shown some signs of improvement over recent months. Household spending appears to be [...]

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Producer Price Index

15 December 2009

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       This morning, the Producer Price Index (PPI) came out a lot hotter than expected at 1.8% compared to the expected of 0.8%. This hotter than expected number was due to higher energy costs. Even when you strip away those energy costs and the cost of  food, the Core PPI was still higher than expected at 0.5%. This is in comparison [...]

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