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Mortgage rates rallied lower yesterday after the Federal Reserve reiterated they intend to keep the Fed Funds rate at at exceptionally low levels for an “extended period”. The Fed also held steady in their belief that inflation is not posing a threat to economic stability. In regard to the...
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After holding levels not seen since early this summer for over a week, mortgage rates are under some pressure to move higher. Yesterday, mortgage backed securities were lower in price which forced lenders to offer higher mortgage rates. The downward move continued all the way into close which led to...
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On Tuesday, the producer price index for October and the National Association of Home Builders' (NAHB) Housing Market Index for November will be released in the U.S. Market participants will also be interested in hearing testimony from Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson...
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The Bank of Canada's rate decision and semi-annual testimony from Fed Chairman Ben Bernanke are the main events of what is looking to be an action-packed Tuesday. Markets will also be treated to the Canadian new motor vehicle sales, U.S. PPI and the Empire Fed's manufacturing index. At 7:45 a.m. EDT...