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 […]
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first time home buyer tax credit
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, […]