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Mortgage Rates Continue to Rise, Fed Eases Fears
REALTORMag ^ | 7/12/13 | Daily Real Estate News

Posted on 07/12/2013 12:00:25 PM PDT by illiac

Mortgage rates moved higher again this week as speculation continued about whether the Federal Reserve will end its future bond purchases, which have kept rates at historical lows, Freddie Mac reports in its weekly mortgage market survey. But remarks by Federal Reserve Chairman Ben Bernanke on Wednesday may indicate that the Fed won’t be ending its program immediately.

On Wednesday, Bernanke said that unemployment is still high and inflation too low. He said the Fed would not raise short-term rates until the unemployment rate reaches 6.5 percent. The jobless rate is currently 7.6 percent. The Fed has been buying $86 billion a month in government bonds to hold down long-term interest rates, which have helped mortgage rates in recent months reach all-time lows.

Freddie Mac reported the following national averages with mortgage rates for the week ending July 11:

(Excerpt) Read more at realtormag.realtor.org ...


TOPICS: Business/Economy; Editorial; News/Current Events
KEYWORDS: economy; housing; mortgage
Have heard of some lenders as high as 4.9% - still low, but edging up....
1 posted on 07/12/2013 12:00:25 PM PDT by illiac
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To: illiac

This economist was on Fox Business. GREAT interview!

http://video.foxbusiness.com/v/2542264165001/mortgage-rates-push-upward/?playlist_id=937116503001


2 posted on 07/12/2013 12:03:59 PM PDT by whitedog57
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To: illiac

Raise mortgage rates. Raise gas prices.

Oh yeah. That’ll fix the economy /s

Not to mention ObaMugabeCare.


3 posted on 07/12/2013 12:09:19 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: whitedog57

Was a great interview....thanks


4 posted on 07/12/2013 12:10:10 PM PDT by illiac (If we don't change directions soon, we'll get where we're going)
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To: F15Eagle

New foreclosure wave coming soon.


5 posted on 07/12/2013 12:12:13 PM PDT by stephenjohnbanker (K I L L T H E B I L L !!)
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To: stephenjohnbanker

Yep


6 posted on 07/12/2013 12:15:37 PM PDT by F15Eagle (1Jn4:15;5:4-5,11-13;Mt27:50-54;Mk15:33-34;Jn3:17-18,6:69,11:25,14:6,20:31;Ro10:8-11;1Tm2:5-6;Ti3:4-7)
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To: illiac

Just when rising real estate prices give hope to us home owners that never missed a payment,have perfect credit but are not under water in their home values and their ONLY impediment to refi was poor LTV scores, old whiskers Bernanke has to open his BFM.


7 posted on 07/12/2013 12:42:09 PM PDT by Cyman
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