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When Is The Right Time To Lock You Buyers' Interest Rate??
Weekly Mortgage Rate UpdateWith the announcement at the beginning of the week of a Greek bailout deal, the focus returned to the economic data. The major retail sales and manufacturing data was weaker than expected, causing mortgage rates to end the week a little lower. 
THIS WEEK'S RATE TREND IS DOWN  
Fed Likely to Raise Rates By Year’s End If ‘Economy Evolves’ AsExpected Janet Yellen
Federal Reserve Chair Janet Yellen had a busy week, making semi-annual appearances before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday.
In both hearings, Yellen addressed the subject of the much-anticipated federal funds range increase; Thursday before the Senate Banking Committee, she reiterated that more economic improvement, particularly in the labor market, is needed along with confidence that the objective of 2 percent inflation can be met over the medium term. She said the Federal Open Market Committee (FOMC) would determine on a meeting-by-meeting basis if progress toward that goal is sufficient enough to raise the rates.
"If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy," Yellen said. "Indeed, most participants in June ... more

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