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News Affecting Mortgage Interest Rates for 07/19/10

19 July 2010

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This week will be a light week for economic reports. But what can and may move the bond market will be Fed. Chairman Bernanke’s testimony on Wednesday to the Senate Banking Committee and on Thursday to the House Financial Committee. Each word in his opening statement on Wednesday will be closely analyzed to see where he thinks the economy is [...]

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Housing Stats, PPI, FHA

20 January 2010

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      We’ve opened up the day trending upward but as always that can change. Housing Starts for December were down 4.0% partly due to the cold weather we all experience in December. It certainly was too cold for me. But if you look at the Building Permits which forecasts the future of building, those were [...]

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Are you one of the new 1.3 million homeowners who have claimed the $8000 Tax Credit?

31 October 2009

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     If not, what are you waiting for? It can take a week to several months to find a home plus housing inventories are shrinking.        The extension of the First Time Home Buyers Tax Credit is being attached to the bill that would extend unemployment benefits. At present, it seems that the Senate and House have [...]

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The Government and Mortgage Lending

28 July 2009

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     Unfortunately the government has added a new regulation to our industry. As of August 1, 2009, the Mortgage Disclosure Improvement Act (MDIA) will be enacted. And this will impact you, the borrower.      Here is how the new MDIA could and can affect you:  No fees can be charged prior to receipt of initial disclosures except for reasonable [...]

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