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The Fed Reserve’s announcement yesterday moved the mortgage markets. Industry insiders continue to brace for the feared double dip recession. Many analysts that aren’t in Obama’s pocket believe the economy will take another dip. The housing sector is pretty flat and there are many regions that are in desperate need of some good news. Consumer bankruptcies in the U.S. continue to rise (in 2006 there were less than 600,000 filed; last year there were 1.4 million, and this year is on pace to top 1.6 million). The private sector does notappear to be ready to hire. These factors should contribute to the Fed keeping
mortgage rates low for the near future.
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