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Mortgage Rate Predictions

Aug 29, 2014 8:19AM PDT

Rate Update 8/29/2014 : Mortgage interest rates have barely budged from yesterday's levels, and aside from Chicago PMI, which exceeded expectations and jumped by 11.7 points in August, effectively recovering from the lows recorded in July, few other significant reports are due. Strong data out of Chicago, but like yesterday, not enough to push bonds into negative territory given activity overseas.For other market movers this week, keep an eye out for tomorrow's Personal Consumption and Chicago PMI.Yesterday: The European Central Bank's announcement of plans to begin their own quantitative easing by spring 2015 had the American bond market caught up in a feeding frenzy. This is all in spite of perfectly delightful GDP data (4.2 percent), lowered Jobless Claims, and strong Pending Home Sales... More

Displaying rates for Mortgage Refinance in VA for $200,000

4.181%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated September 02, 2014
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4.071%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated September 02, 2014
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4.227%

APR
30 Year Fixed
4.000% Rate $955/mo
  • Updated September 02, 2014
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4.039%

APR
30 Year Fixed
4.000% Rate $955/mo
  • Updated September 02, 2014
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  • Get a free and no obligation rate quote in Virginia.
  • These rates won't last. Call now and lock-in your low rate!

4.079%

APR
30 Year Fixed
3.875% Rate $940/mo
  • Updated September 02, 2014
  • Competitive rates and no hidden fees
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4.340%

APR
30 Year Fixed
4.125% Rate $969/mo
  • Updated September 02, 2014
  • We close our loans FAST - many in 30 days or less!
  • Rates are still historically low! Lock in a low rate and payment today.
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4.177%

APR
30 Year Fixed
4.125% Rate $969/mo
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Bart Castelli
Mortgage rates were basically the same as they were yesterday as there was very little movement ahead of a three day weekend. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains at 4.125%, with the closing costs associated with this being the only change. Most attention today on the increased terrorist threat issued by the UK this morning to "severe", the second highest threat level they have. We continue to warn...
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Justin Fitzhugh
Homebuyer affordability is at an all-time high level, and the the monthly mortgage payment-to-rent ratio for the U.S. is near the lowest it has been in more than 35 years.[1] So why are we not seeing a pickup of first-time homebuying activity? Based on past social patterns, the Echo Boomer generation (born between 1981- 2000 ) was scheduled to start their homeownership cycle more than a couple of years ago, but so far, they are choosing to rent...
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Bart Castelli
Mortgage rates inched a little bit more towards the lowest point for 2014. It seems like I am repeating myself as the interest rates that are normally influenced by strong economic reports did just the opposite - as the market considerations still is being looked at heavily overseas. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios is now at 4.125%, with 4.00% now becoming a factor with higher closing costs into the...
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Justin Fitzhugh
Last week I began to discuss the Housing, Americas Future study. My intention is to summarize the various points the Bipartisan Policy Think Tank addresses through this study with the vision to promote involvement
Nevin Williams
Current mortgage rates are slightly better. News of a truce in Israel wasn't enough to convince investors that the worst has come and gone. Fears that the US may become more involved with fighting ISIS is another reason we are seeing investors buying bonds as a way to move their money to safety. I wouldn't be surprised if we see a few more trading days of improvement before bond traders sell bonds and take profits. October is when the...
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MEL SMITH--LENDER OF THE MONTH
Perhaps you have recently been denied a Mortgage for a Home Purchase or Refinance. Do not lose hope, because there still may be options available to accomplish your goal. I have seen people get denied at one bank and approved at another on the same day. Often, this relates to the difference in Bank guidelines or could depend upon the knowledge of the Professional you work with. I would advise Borrowers to try and understand why they were denied...
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Justin Fitzhugh
Last week, the Consumer Financial Protection Bureau, CFPB, published the final rule on annual adjustments for HOEPA, and the Ability to Repay/Qualified Mortgage provisions of Dodd Frank. These adjustments become effective on January 1, 2015. In accordance with The Ability to Repay and Qualified Mortgage rule, ATR / QM, the CFPB issued its annual adjustment of points and fees limits for a mortgage to qualify. The Bureau increased these limits as...
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Joe Shamie
Wednesday - August 27, 2014 - 10:15am ET Current Trend Direction: Sideways to higher Float/Lock Bias: Carefully FloatingCurrent Price of FNMA 4.0% Bond: $105.91, +12bp Mortgage Bonds are drifting higher this morning as Stock investors step back to survey the land after the closely watched S&P 500 closed at a record high yesterday of 2,000.02,while the Nasdaq hit its highest level since March of 2000, 4,570.64. S&P futures are slightly...
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Bart Castelli
Mortgage rates were steady for the most part today as 4.125% - 4.25% (depending on loan fees) still is intact as the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. The markets that underlie mortgage rate movement were uninspired today. Housing is still at best muddling - how can one save enough for a down payment? It is likely that will continue, especially if and when interest rates increase. That is one of the key...
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Justin Fitzhugh
The economy appears to be kicking and screaming; the MBA reported increased activity of mortgage applications, Freddie Mac reported lower fixed rate mortgage interest rates, and NARS reported increased home sales during July. A lot happening in the policy making and regulatory arena; the CFPB issued its annual adjusted ATR / QM and HOEPA loan limits thresholds, and it reminded mortgage servicers about mortgage transfer best practices; ABA...
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Prospect Financial Group, Inc.
Today's mortgage rates are very low. There is also now a big difference between the mortgage rate of a 30-year fixed and a 15-year fixed. For the first time in history, the 15-year fixed rate mortgage is almost a full percentage point cheaper than the 30-year fixed rate mortgage. To be exact, the average 15-year is 0.92% lower than the 30-year. That amounts to 65% less in mortgage interest over the life of the loan. It's no surprise...
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Justin Fitzhugh
Last week, August 12th, 2014, the Federal Housing Finance Agency, FHFA, issued a request for input on its proposed Single Enterprise Mortgage-Back Security, the Single Security. The structuring and issuing of a single security to market and guarantee GSE loans, is part of a larger strategy that is intended to develop a liquid, resilient, and sustainable secondary mortgage market which is attractive to private investors. The structuring of Single...
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Bart Castelli
Mortgage rates stopped their trek upward and retreated just a little bit today. This still leaves 4.125% - 4.25% (depending on loan fees) intact as the most prevalently-quoted conforming 30yr fixed rate for top tier borrowers. Another low volume improvement in the stock market and interest rates have held support on the 10yr at 2.44%, now 2.41%. MBS prices ending the day better than morning pricing levels. The data this morning for the US was...
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Justin Fitzhugh
I came across Housing, Americas Future: New Directions for National Policy report, and after I read the executive summary I decided to discuss some of its topics through my blog posts. The report was sponsored by The Bipartisan Policy Center[1] in an effort to analyze what motivated the last Housing Collapsed and Sub-Prime Lending Crisis, and the goal to think about policies that can help us build a sustainable housing market and financing...
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James Brooks
By James Brooks The bond market is currently up 5/32 (2.41%),which should improve mortgage rates by .125 points. The first of this morning's three releases was last week's unemployment figures at 8:30 AM ET. They showed that 298,000 new claims for unemployment benefits were filed last week, down from the previous week's revised total of 312,000. That indicates the employment sector strengthened last week, making the data slightly...
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MEL SMITH--LENDER OF THE MONTH
How many homes have you viewed in your quest for Home Ownership? The average buyer looks at numerous houses before deciding on the best one. Sometimes you may find a potential house that has everything you desire except that fact that it's outdated. Under those circumstances, it may be advantageous to consider a FHA 203k loan. This awesome loan product is designed to help you purchase and renovate a home seamlessly. In fact, if the projected...
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Justin Fitzhugh
Despite the fact that Congress is in recess, and that some of us may take it easier on a sandy beach, at the heart of this summer Federal Housing Agencies miss no opportunity to report the economy is on track, propose new regulations, an FHA Official announces a step down, and HUD settles with another Company to resolve discrimination allegations. Is this summer? ECONOMY ON TRACK Last August 12th, 2014, The Department of Housing and Urban Affairs...
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Bart Castelli
Mortgage rates continued to move up wiping out last week's gains as we are now seeing an easing in overseas geo-political issues. The most prevalently-quoted conforming 30yr fixed rate for top tier scenarios remains 4.125% - 4.25%. Two better housing reports already this week suggest the market may be improving as interest rates have fallen. Yesterday the NAHB housing market index for August showed increased activity in the new home...
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Prospect Financial Group, Inc.
Your credit is extremely important for your financial situation. Think of it as a grade. When you're in school, you need good grades to qualify for a good college. When you're financially independent, you need a good credit score to qualify for low rates. The better your score, the more opportunities that are available to you. And though it takes years to create a good FICO score, it can take only a couple mistakes to tank. Your credit...
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Justin Fitzhugh
FHA issued new Principal Limit Factors (PLFs) for Home Equity Conversion Mortgages (Reverse Mortgages). Mortgagees must ensure that borrowers are given cost / benefit analysis of HECM loans. The intention behind this requirement is to help the borrower asses whether the HECM insured mortgage will his/her needs.[1] Mortgagees must advise prospective borrowers and their non-borrowing spouses to discuss with their housing counselor whether principal...
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Sean Young
Would you buy a home today if did not have to worry about the down payment? Then the Colorado NHF Platinum program may be exactly what you have been waiting for. What is the NHF 5% Grant Program? The NHF Platinum 5% grant is is a down payment assistance program that actually gives you a 5% grant to go towards your FHA 3.50% down payment and closing costs. This is a grant you dont ever pay back. Yes, you heard me right. You never pay it back! 5% grant? The
Prospect Financial Group, Inc.
Every month S&P Dow Jones Indices releases a Case-Shiller Index. This report measures the change in homes' values in 20 U.S. cities. The May 2014 Case-Shiller Index showed growth in all of the recorded cities. The total growth in May was 1.1% nationwide. Home values this year are up 9% on an annual basis. Below are the top gains by city. Tampa, Florida+1.8%San Francisco, California+1.6%Chicago, Illinois+1.5% The rise in home values,...
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Joe Shamie
Thursday - August 14, 2014 - 12:45am ET Current Trend Direction: Sideways just above resistance Float/Lock Bias: Short term Locking Current Price of FNMA 4.0% Bond: $105.66, +9bp Mortgage Bonds are modestly higher being supported on news that the Eurozone economy ground to a halt in the second quarter as the debt problems continue to wreak economic havoc in the region. It was reported that Germany's Gross Domestic Product contracted by 0.2%...
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Justin Fitzhugh
Last Thursday, August 7th, 2014, the US Department of Justice, DOJ, reached a settlement with Fifth Third Mortgage Company to resolve allegations of discrimination on the basis of disability and receipt of public assistance. To prevent Fair Housing Act and Equal Credit Opportunity violation charges, the company agreed to pay $1.5 million to compensate victims, as well as to maintain revised policies and train underwriters and loan officers on the...
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Justin Fitzhugh
Last Month, July, 2014, Fannie Mae released its second quarterly Lender Sentiment Survey.[1] The Survey compares senior mortgage executives sentiment to consumers sentiment as reported by the National Housing Survey.[2] Overall, senior mortgage executives reported a net increase in demand for consumer purchase mortgages, and an upbeat outlook for the next quarter. I found it quite interesting that the report indicates mortgage executives are...
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Joe Shamie
Tuesday - August 12, 2014 - 11:20am ET Current Trend Direction: Sideways below resistance Float/Lock: Short Term Locking Current Price of FNMA 4.0% Bond: $105.44, +6bp Mortgage Bonds continue their sideways path as the geopolitical headlines from the Mideast and Ukraine subside for the time being. The dog days of August have set in with many investors away on vacation while Europe and the US Congress unplug until September. The Eurodrama is...
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Justin Fitzhugh
On July 29th, 2014,[1] the American Bankers Association, ABA, asked the Consumer Financial Protection Bureau, CFPB, to clarify and revise certain mortgage servicing rules related to delinquent and defaulted loans.[2] THE OPENING ABAs letter begins requesting CFPB keeps policy and regulation changes specific and narrow, because systemwide changes impose high costs and trumple previous investments in technology that help banks implement rule and...
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Joe Shamie
Monday - August 11, 2014 - 12:45 pm ET Current Trend Direction: Sideways to lower Float/Lock Bias: Short Term Locking Current Price of FNMA 4.0% Bond: $105.41, +3bp Easing geopolitical tensions abroad is lifting Stocks while removing some of the recent safe haven in the Bond markets. There are no economic reports today and the week's calendar is on the light side with Retail Sales, Producer Price Index and Weekly Initial Claims the...
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Bart Castelli
Mortgage rates went on a wild roller coaster ride today as the markets started off soft and then reversed itself with geo-political issues overseas. The most prevalently-quoted conforming 30yr fixed rate for flawless scenarios remains at 4.25%, but 4.125% is still be courted with additional fees. Following the bouncing ball is always a walk on the wild side. After the US dropped bombs in Iraq this morning, and again this afternoon, and earlier...
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Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/08/09/mortgage-market-update-for-friday-august-8-2014/
Justin Fitzhugh
Last month, July 29, 2014, the Federal Housing Finance Agency, FHFA, announced a deadline extension for input on the guaranteed fees (g-fees) Fannie Mae and Freddie Mac charge to lenders.[1] The new deadline, September 8th, is aligned with the request for input on the draft of private mortgage insurer eligibility requirements. BACKGROUND The Enterprises, Fannie Mae and Freddie Mac, charge g-fees to lenders in exchange of mortgage payment...
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Prospect Financial Group, Inc.
The mortgage market is in quite good position currently. Rates are low. Qualifying is doable. Employment is improving and home values climb. So why is housing growth so slow? The answer might be pretty simple: people just can't afford to buy. Without a doubt, the current market is one where sellers have the upper hand. Because of investors buying up properties and turning them into renters, and low housing supply starting bidding wars, home...
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Joe Shamie
Thursday - August 7, 2014 - 10:50 am ET Current Trend Direction: Sideways at resistance Float/Lock: Still locking Current Price of FNMA 4.0% Bond: $105.59, +9 bps Mortgage Bonds continue their sideways pattern right near resistance with little influence to push prices higher. However, a big drop in unemployment claims were shrugged off as the Fed is back in there with both fists purchasing Bonds this morning. The Labor Department reported that...
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Justin Fitzhugh
Last month, members of Congress marked up mortgage related bill H.R. 5148, short titled Access to Affordable Mortgages Act of 2014.[1] The main point of this bill is to exempt higher priced mortgages from the appraisal requirements set forth by the Truth in Lending Act Section 129H and
Bart Castelli
Mortgage rates again were steady even though the Bond markets overseas were strong. The caution was justified as bond markets never threatened to move back toward overnight levels. The most prevalently-quoted conforming 30yr fixed rates remain 4.125% and 4.25% depending on individual details.How many times can the bellwether 10yr note try and fail to break its strong resistance at 2.44%? It was tested early this morning on increased tensions in...
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Richard Airey
Here is today's Mortgage Market Update from my blog, The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/08/07/mortgage-market-update-for-wednesday-august-6th-2014/
Joe Shamie
Wednesday - August 6, 2014 - 11:00 am ET Current Trend Direction: Sideways at resistance Float/Lock Bias: Still locking Current Price of FNMA 4.0% Bond: $105.53, +6bp Mortgage Bonds are near unchanged and off their best levels. Prices are receiving some support on news that Italy has fallen back into a recession, while German factory orders fell to levels not seen in three years. No surprise to us that the Eurodrama would re-emerge! The ECB will...
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Justin Fitzhugh
Last month, July 24th, 2014, the Consumer Financial Protection Bureau, CFPB, proposed changes to HMDA reporting requirements, regulation C.[1] Changes include the types of institutions required to report, types of transactions required to be reported, aligning reporting to mirror MISMO Standards, extending and/or modifying data points, and increasing the frequency of the reporting. These changes are extensive, and will require reporting by all...
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Prospect Financial Group, Inc.
The FHA loan is very popular among consumers for many reasons. It's now easier than ever to qualify for the Federal Housing Administration-backed loan. Major lenders are now accepting credit scores of only 600. This is 40 points lower than only a year ago. The demand is high for these loans and it's easier than ever to qualify. The FHA is so popular because of its relaxed nature. Unlike a conventional loan, FHA loans require a very...
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Justin Fitzhugh
On July 23rd, 2014 the CFPB announced lawsuits again 3 companies and individuals who scammed troubled borrowers with promises of foreclosure prevention and loan modifications.[1] On the same date, the FTC announced charges against six other companies for mortgage modification and foreclosure reversal misrepresentations. These companies violated Regulation O, also know as the Mortgage Assistance Relief Services, MARS; this rule bans mortgage...
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Prospect Financial Group, Inc.
The Federal Reserve has held its July 2014 FOMC meeting and the decisions made during the meeting come as a surprise to no one. During the 46th consecutive meeting, the Federal Open Market Committee met all expectations. The third round of quantitative easing (QE3) is scheduled taper again beginning in August. The Fed will cut the program by another $10 billion; bringing total purchasing to $25 billion. The Fed is now purchasing $15 billion is...
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Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/08/02/mortgage-market-update-for-friday-august-1st-2014/
Prospect Financial Group, Inc.
After the housing crash, most people have lost faith in the housing market and are looking to quickly pay off mortgages. The security of owning your home 100% is a prospect every homeowner looks forward to. If you wish to get to this milestone faster, there are a couple of ways to go about it. The easiest way to pay off your mortgage faster is to add a little payment to the principal amount. Mortgage calculators can be a great asset when figuring...
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Prospect Financial Group, Inc.
There has been a recent crackdown on companies that have been taking advantage of struggling homeowners. These companies promise false help in avoiding foreclosure or lowering mortgage payments as they siphon millions of dollars in illegal fees. The law suits were filed by federal and state officials, seeking to punish and get rid of the scams. Operation Mis-Modification led the actions and targeted law firms and counseling services who offered...
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Richard Airey
Here is today's Mortgage Market Update for Thursday, July 31 from my blog: The Maine Mortgage Expert. http://mainemortgageexpert.com/2014/08/01/mortgage-market-update-for-thursday-july-31-2014/
Joe Shamie
Thursday - July 31, 2014, 2:15pm ET Current Trend Direction: Sideways and at the bottom of the trading range Float/Lock Bias: Floating into Jobs Report - but read on Current Price of FNMA 4.0% Bond: $105.16, +3bp A hint of wage based inflation is pushing the Bond markets lower this morning, but have rallied back to near unchanged levels. However, the Bond selloff is being tempered by a decline in Stocks, due to Argentina defaulting on its debt...
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Justin Fitzhugh
Last month, New York Department of Financial Services finalized and enacted Banking Law Article 6-f, which permits banks and mortgage servicers to exchange a reduction in outstanding principal for a share of the future increase of homes value.[1] Wha-wha-what? Yes! Lenders licensed to make residential mortgage loans in the state of New York are permitted to receive a share in the future appreciation of the property serving as a security for the...
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Richard Airey
Here is today's Mortgage Market Update from my blog: The Maine Mortgage Expert: http://mainemortgageexpert.com/2014/07/31/mortgage-market-update-for-wednesday-july-30th-2014
Justin Fitzhugh
Earlier this month, the city of Miami suffered a blow by the U.S. District Court for the Southern District of Florida. The Court dismissed three suits filed the city against mortgage lenders Bank of America, Wells Fargo, and Citigroup.[1] The City alleged loss of tax revenue and increased costs of providing services stemming from predatory lending to minority communities. Until recently, courts permitted anyone to file a lawsuit under the Fair...
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Joe Shamie
Wednesday - July 30, 2014, 10:15am ET Current Trend Direction: Sideways Float/Lock Bias: Carefully floating Current Price of FNMA 4.0% Bond: $105.34, -25bp A very big uptick in 2nd Quarter economic growth is pushing Stocks higher and Bond prices lower this morning. The government reported that the first reading on 2nd quarter Gross Domestic Product (GDP) surged by 4%, above the 3.2% expected and up from the -2.1% in the 1st Quarter, which was...
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