Pending Home Sales Index Points to Continued Weakness in Home Sales |
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Pending Home Sales Index Points to Continued Weakness in Home Sales The Fannie and Freddie rescue has resulted in lower mortgage rates and improved housing affordability. The 30-year fixed rate mortgage is down about 40-50 bps after the takeover of Fannie and Freddie but the unemployment rate just shot up to 6.1% in August, the highest in five years. In sum, the housing market should experience some benefits from lower costs of borrowing but the exceptionally weak employment conditions will
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