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Interest Rates remain near record lows
Interest rates eased down again , and remain near historical lows. With the volatility in the stock market expected to continue, the flight to safety and bonds is expected to continue, keeping interest rates down The following are some excerpts from this week's newsletter on interest rates from HSH Associates :
"Italy joined Greece in spooking the markets this week, and safe-haven money again flowed into the US Treasury markets, pressing interest rates down. As fixed mortgage rates follow Treasuries, they also found some space to decline, and are within a stone's throw of record lows again.
 
According to the Fed's latest survey of Senior Loan Officers, underwriting standards for residential mortgages are essentially unchanged with perhaps a slight easing tone over the last three months. Fannie and Freddie's underwriting standards have been firm for some time, and with most loans being passed along to them, it's little wonder that standards remain fast. However, the recent change to lower the loan limits for conforming loans in certain areas has expanded the chance for private money and lending standards to get back into the market, and we may see if this resulted in easing standards and more availability of credit for ... more

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