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07/27/2007 Concern Over Softening Housing Market Helped Bring About a Drop in Mortgage Rates This Week
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McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.69 percent with an average 0.4 point for the week ending July 26, 2007, down from last week when it averaged 6.73. Last year at this time, the 30-year FRM averaged 6.72 percent.
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07/27/2007 Foreclosure Opportunities Not Always Pretty
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When I get a letter from those exploring a foreclosure purchase, it reiterates how many people look at foreclosure as a rags-to-riches proposition that will leave them with the golden egg-laying goose, but one that doesn't require basic care of the goose -- food, shelter, protection from wolves, etc.
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07/26/2007 Beazer posts $123 million in losses as backlog persists
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Beazer Homes USA Inc. posted quarterly losses of $123 million as the builder wrote down the value of unsold homes, abandoned land option contracts and totaled up goodwill impairments.
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07/26/2007 SEC blesses workouts on securitized loans
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The Securities and Exchange Commission says lenders don't have to put mortgage loans they hold through securitization trusts back on their balance sheets if the trusts that service the loans engage in workouts with troubled borrowers.
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07/26/2007 D.R Horton reports quarterly loss
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D.R. Horton, one of the largest home builders in the U.S., on Thursday reported its first quarterly loss in a decade on plunging sales and a land write-off.
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07/26/2007 DOJ using mortgage data to ID high-cost loans to minorities
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The U.S. Department of Justice is using loan-level data collected from lenders to investigate whether minorities are targeted for higher-priced loans, but consumer and civil rights groups say not enough is being done to combat unfair lending practices.
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07/26/2007 Mortgage rates fall on housing concerns
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Long-term mortgage rates dropped this week as concerns over the housing market's recovery intensified, Freddie Mac and Bankrate.com reported in separate surveys.
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07/26/2007 New-home sales tumble 22% in June
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Sales of new single-family homes weakened in June as the seasonally adjusted annual sales rate fell to 834,000 units, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
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07/26/2007 Real estate rates barely move overnight
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Long-term mortgage interest rates barely moved Wednesday, and the benchmark 10-year Treasury bond yield fell slightly to 4.9 percent.
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07/26/2007 Multi-family housing starts up 40% in June
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A 40 percent jump in multifamily housing construction starts from May to June helped residential building grow 4 percent for the month, to an annual rate of $283.4 billion, according to McGraw-Hill Construction Research & Analytics.
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