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www.Refinance-Internet.com - Refinance Rates, Refinance Programs, Refinance Payments
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| Mortgage News Articles |
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Existing Home Sales Ease, Fed May Pause Rate Hikes |
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The National Association of Realtors announced today that total existing-home sales--including single-family, townhomes, condominiums and co-ops--eased 1.3 percent in June in a month-over-month comparison to May. Sales were also 8.9 percent below existing home sales of June 2005. "Last week, Fed Chairman Ben Bernanke said 'moderation' was underway in the economy, insinuating that the Federal Reserve may stop raising short-term interest rates," said Bill Emerson, CEO of Loans. "That is great news for those in the market to buy a home. Not only are long-term rates still at near-historic lows, but short-term rate hikes are expected to taper off. The rate picture, combined with a growing jobs picture, should make for another robust year in home sales."
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Publish Date: 07/25/2006
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