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Wednesday, July 24, 2013

Rates are at 2 year high and going higher according to

Rates are at 2 year high and going higher according to Bloomberg News.
The avg. cost of a 30-year, fixed-rate home loans rose to 4.36% on June 21, from a record low 3.36% in December.
Yields on Fannie Mae and Freddie Mac mortgage bonds guiding U.S. home-loan rates extended increases sparked by a potential slowing of the Federal Reserve’s debt purchases.
The yields have risen from a record-low of 1.68 percent reached Sept. 26, after the Fed announced it would start buying $40 billion of government-backed housing debt a month (hey, say, instead, they give us $40 billion A MONTH-I think that would make us spend! HAH) , embarking on its 3rd of so-called "quantitative easing" to spur growth.
Bonds are tumbling worldwide as the central bank moves closer to scaling back its $85 billion in monthly debt buying, which includes $45 billion of Treasuries.

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