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Poor reads on housing and manufacturing helped mortgage rates move back to historic lows yesterday. However as the day progressed mortgage-backed securities prices fell from their highs and some lenders were forced to reprice for the worse. Rate sheet recalls were not broad based though. We had only...
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Mortgage rates bounced back and forth in a relatively tight range before going out at their highest levels of the week last Friday. Although prices of mortgage-backed securities managed to rally of their lows of the day, most lenders did not reprice for the better. The only economic data we got today...
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For most of yesterday's trading session it appeared mortgage rates were destined to move higher. Benchmark Treasury yields and mortgage-backed security prices opened lower and held near their weakest levels of the year all the way into the 7-year Treasury note auction. Many lenders actually repriced...
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Gross Domestic Product ― the measure of total U.S. output of goods and services from ocean to ocean ― contracted at a slower pace in the first quarter than originally reported, the Commerce Department said on Friday. Looking ahead, the nationwide contraction appears to be slowing. The Q1 report indicated...
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Economists expect the preliminary revisions to United States GDP to show the third-quarter contracting at a slightly faster pace than originally reported. Some are expecting inventories to get slashed a bit more, others anticipate even weaker spending, but most agree that the risk is to the downside...
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The advance GDP report came in slightly better than expected for the third quarter of 2008, contracting by 0.3% against expectations of a 0.5% decline, according to the Bureau of Economic Analysis on Thursday. The previous month's 2.8% growth was unrevised. The negative figure is the second decline...
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Second-quarter U.S. GDP rose above expectations in the preliminary report, rising to 3.3% from the previously reported 1.9%, the Bureau of Economic Analysis reported on Thursday. Economists were expecting a revision to 2.7%. First-quarter growth in 2008 was 0.9%. Exports advanced by 13.2% in the revision...
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The strong upward revision to second quarter U.S. GDP was the result of strong exports and the fiscal stimulus package, according to economists who are already looking forward to GDP results from the third quarter. Second-quarter U.S. GDP rose above expectations in the preliminary report, rising to 3...
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The advance U.S. GDP report came in lower than expected for the second quarter of 2008, rising by 1.9% against expectations of 2.3% growth, according to the Bureau of Economic Analysis on Thursday. Revisions showed the U.S. economy shrank 0.2% in the fourth quarter 2007. The negative figure is the first...
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The consensus forecast expects U.S. GDP growth to come in quite a bit better than the two previous quarters, as exports have surged on the weak dollar and the fiscal stimulus package has provided a boost to consumption. The advance Q2 GDP report is expected to show growth of 2.3% in Thursday's report...