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Business

Mortgage Rate Update 5/1/2009

May 1, 2009

In anticipation of the announcement of favorable new Fed actions, mortgage rates moved lower early in the week. Some investors were looking for the Fed to expand its purchases of Treasury securities, which would be positive for mortgage rates. Those investors were disappointed, however, as the Fed announced no new initiatives. The Fed made no [...]

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Mortgage Rate Update 4/24/09

April 24, 2009

Mortgages rates started the day higher, but are beginning to recover. The strength of equities has started to sell off on details of the bank stress tests. This sell-off is starting to drive some investors back to the safety of bonds, which is recovering the MBS market back to a mortgage rates neutral level for [...]

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Mortgage Rate Update 4/10/09

April 10, 2009

Mortgage rates moved up slightly for the week nationally (but stayed at last week’s rates here), and remain under 5%. The short holiday trading week and little economic reporting supported mortgage rates holding flat through most of the week. Mortgage rates still remain below 5%–a historically low level. This stability has increased housing demand and [...]

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Does Your Uncle Understand The Subtleties of Home Inspection?

April 9, 2009

This is the first in what will be a series of posts by experts in various fields related to real estate, such as home inspection, mortgages, and home improvement. This inaugural post is by Jim Quarello, founder of JRV Home Inspection Services in Wallingford, CT. Find out more about Jim and what he can offer [...]

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Meriden Market Update March 2009

April 8, 2009

The Meriden housing market continues on a mediocre pace. Single family home sales were down 25% from February, but pending sales were up. Total listings were down, while average days on market increased as older inventory was sold, but average selling price decreased slightly. Condo sales, on the other hand, have been increasing over the [...]

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Mortgage Rate Update 4/3/09

April 3, 2009

Mortgage rates seem ready to stabilize for an extended period of time, and our rates this week remain unchanged from last week. The stock market ended the quarter on another down cycle and corporations struggle through another tough quarter. This contributed to some additional improvement in mortgage rates early in the week, but returning to [...]

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Mortgage Rate Update 3/27/09

March 27, 2009

Mortgage rates dropped into the high 4 percent range this week and continue to hold at record lows. Almost totally held by Fed actions in the market–buying mortgage-backed securities and long-term treasuries–there are fears of a rapid reversal in the trend. Key economic data today with the PCE numbers and subtle indicators in recent GDP [...]

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Mortgage Rate Update 3/20/09

March 21, 2009

There was some excitement today as rates in some areas dipped as low as 4.75%, but it seemed to be short-lived. Rates here continue to hold their sideways pattern, and should continue to do so for the foreseeable future, but at least the 30-year is at an even 5 percent.  The Fed buying long-term treasuries [...]

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Mortgage Rate Update 3/13/09

March 14, 2009

Mortgage rates received tremendous upward pressure this week, but they recovered to flat, and actually have ticked down a bit. The multi-day stock market rally and some strong economic indicator surprises, like retails sales and inventories, have pushed on MBS yields. However, unemployment numbers, home sales, and housing prices all showing strong negative results will [...]

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Wallingford Electric Roller Coaster Ride Continues

March 12, 2009

Back in December we reported about the price hike that Wallingford Electric was implementing to correct an “error in calculation”by CMEEC (Connecticut Municipal Electrical Energy Cooperative), the company they purchase their energy from. We were hoping that was the last increase we’d see for a while. It seems we were mistaken. The New Increase Faced [...]

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