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Weekly
Rate Trends |
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30
Year |
15
Year |
06/12 |
6.32% |
5.93% |
06/05 |
6.09% |
5.65% |
05/29 |
6.08% |
5.56% |
05/22 |
5.98% |
5.55% |
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5/1
ARM |
1
Yr ARM |
06/12 |
5.70% |
5.09% |
06/05 |
5.51% |
5.06% |
05/29 |
5.62% |
5.22% |
05/22 |
5.61% |
5.24% |
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Mortgage Applications On The Decline Again
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Graph: MBA Applications Index over 52 Weeks
Click "read more" to see a detailed breakdown of the weekly report on mortgage demand. |
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Starts Lowest in 17 Years, Builder Confidence Hits Low |
According to the National Association of Home Builders (NAHB), new home construction fell in May to the lowest level since January 1991 as an index of homebuilder confidence dropped back to a record low.
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Future in Doubt, Troubled Thornburg Hit With SEC Probe |
With Thornburg Mortgage Inc. trading at roughly 7% of its value at the start of the year as it struggles with deep losses, the jumbo mortgage specialist has become the subject of a probe by the Securities and Exchange Commission (SEC) into the lender's restatement of its 2007 financial results and margin calls it received.
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Key Senators Investigated For Being “Friends of Angelo” |
The controversial “friends of Angelo” program at Countrywide Financial Corp. continues to register tremors as Sen. Christopher Dodd (D-CT) and Sen. Kent Conrad (D-ND) – both chairman of powerful financial committees – are now the subject of a preliminary investigation by the Senate ethics committee for accepting preferential treatment from the troubled lender.
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Former BoA Exec Faces 35 Years For Bribery and Fraud |
A former vice president at Bank of America faces 35 years in prison after pleading guilty to charges of bribery and fraud in a scheme that used confidential information to rig the bidding on the sale of distressed loans.
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