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mortgage news: Mortgage news you can use - 04/04/08 03:26 PM
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mortgage news: Mortgage News You Can Use October 4th, 2007 - 10/04/07 02:53 PM
The hubbub over the sub-prime mortgage meltdown has abated a bit.  A month ago 151 major U.S. lending operations had imploded since late 2006.  In the last month the number has increased to 161 operations.  We have seen the Federal Reserve cut the Federal Funds Rate by .5% causing short-term rates to dip a bit and long-term mortgage to rise a bit.  The stock market has seen a new high in the last two weeks.  Jumbo rates had jumped up and have now moderated back down.  The Federal government is still debating on how to intervene to stave off a high … (0 comments)

mortgage news: Mortgage News You Can Use - 02/27/07 02:22 PM
 
February 27, 2007
Rate Watch - Mortgage rates fell in the past week.  The 30-year fixed rate mortgage averaged 6.22%, down from 6.30% last week, according to Freddie Mac's Primary Mortgage Market Survey.  Last year at this time, the 30-year averaged 6.26%.
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What happens overseas has an impact on our interest rates. Last Wednesday, Japan's central bank-the Bank of Japan, announced  a 25 basis point rate hike (.25%) boosting their benchmark interest rate to 0.5% - the second increase in the last 7 months.  The USA's Federal Reserve has its benchmark interest rate currently set at 5.25%.  Their economy is second only … (0 comments)

 
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David Crisp

Ann Arbor, MI

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Ann Arbor Mortgage

Address: 2200 Green Road, Ann Arbor, MI, 48105

Office Phone: (734) 669-5860

Cell Phone: (734) 646-5641

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