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first time home buyer tax credit

In The World of Rates, What Goes Down Must Come up; Expect Higher 10Y and Mortgage Rates

Next week the Fed will cease purchasing agency MBS, to an industry outsider this innocuous sounding fact may not garner much attention, but the reality is the implications are likely very significant, and are already making themselves apparent in the market.  Former Fed Chairman Alan Greenspan recently referred to last week’s jump in U.S. interest […]

Existing Home Sales Moving Back To Pre-Tax Credit Levels?

The chart below illustrates how existing home sales appear to be pulling back to levels that would have been expected without a surge in demand stemming from the first time home buyer tax credit, despite the programs extension/expansion.  This could be an indication that housing demand was mostly sopped up by the original tax credit, […]