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	Mortgage And Real Estate News
	USDA Rural Development System Upgrade Complete. Now Processing Conditional Commitments Rural Development\'s interim systems enhancements will complete on September 8, 2010, at which time the Agency will begin obligating Section 502 Single Family Housing Guaranteed Loans.

	Beige Book: Housing Market Experiencing "Sustained Lull" Reports from the twelve Federal Reserve Districts suggested continued growth in national economic activity during the reporting period of mid-July through the end of August, but with widespread signs of a deceleration compared with preceding periods....

	Purchase Apps Up 6.3%. Refinance Demand Declines 3.1% Purchase applications increased last week, reaching the highest level since the end of May. However, purchase activity remains well below levels seen prior to the expiration of the homebuyer tax credit, and is almost 40 percent below the level recorded...

	Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution... Eric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies for Neighborhood Stabilization last Thursday that there may not be a single solution for the...

	FHFA Establishes New Housing Goals for GSEs FHFA has released final housing goals for Freddie Mac and Fannie Mae for 2010-2011. The goals establish benchmarks for the Enterprise to purchase mortgages for low-income and very low income families as well as other target groups.

	Pending Home Sales Rebound from Record Low. What Might Boost Buyer Demand? There has been talk circulating that the Administration is considering the re-authorization of the expired homebuyer tax credit. While I believe this would be taking a step in the wrong direction, I do feel the housing market needs to provide more incentive...

	Fed Hosts Neighborhood Stabilization Summit The Federal Reserve is hosting a two day summit on neighborhood stabilization the focuses on the problem of foreclosures and owned real estate and their impact on local communities.

	Recap and Charts: July Construction Spending Data Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of original building. It includes construction of additional housing units in existing residential structures...

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