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FHFA Says Home Values Rise in Preliminary Index Reading
The value of homes rose nearly 1 percent over April figures in the May Housing Price Index released on Wednesday by the Federal Housing Finance Agency. House values for April, however, was downgraded from figures released last month.
Mid-Day Recap: Stocks Flat on Mixed Earnings
With Federal Reserve chairman Ben Bernanke singing the same tune to the Senate that investors heard from the House yesterday, market attention is focussed on mixed earnings reports. Poor earnings from Yahoo! and AMD put the direction of futures on a downward slope, but after mixed earnings from the financial sector the market regained its footing after three hours of tradingrnrn
Loan Applications Increase Despite Spike in Rates
Mortgage rates climbed in the week ending July 17, yet the demand for loans still managed to increase during the week, according to a weekly industry survey.rnrnThe Mortgage Bankers Association said average rates for a 30-year mortgage rebounded from 5.05% to 5.31% last week, erasing the improvement seen in the prior week when rates fell 29 basis points. The jump in rates didn’t put a halt to refinancing or home purchases, however, as both indexes continued moving up from the seven-month low seen three weeks ago.rn
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