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Pace of Annual Home Price Increases is Quickening

The S&P/Case Shiller Home Price Indices posted another set of strong and broad-based annual increases in November 2012. Data released today shows that the 10-City Composite Index rose 4.5 percent and the 20-City Composite was up 5.5 percent compared to November 2011. Prices rose in 19 of the cities the tracked by the indices with only New York showing an annual decline, 1.2 percent. The year-over-year increase was greater than that posted in October for all of the cities except Cleveland where...

Mortgage Rates Start Stronger, Fade By End Of Day

Mortgage rates began the day much improved compared to Monday's latest offerings, but the gains mostly evaporated by the end of the session. The mortgage-backed-securities (MBS) that most directly affect rates, had been steadily improving since sustaining major damage from Friday through Monday morning. Those improvements carried through to this morning's rate sheet print times, but trading levels began to deteriorate shortly thereafter. Stock prices and Treasury yields rose. MBS fell (falling prices...

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Today's Comments

	"It's funny--4 years ago before I really understood "GUTFLOP" and thought I was a fledgling bond analyst (before MBS was an acronym I even..."
	"The industry needs to take the momentum from this court decision and ignore all rulings from the CFPB. Time to push back on unconstitutional violations..."
	"Ummm..really Monique? How about reckless price bidding wars (you know--don't bother with your offer unless it is $10k over the listing price) selective..."

Today's Q&A