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10 Aug 11 Home Mortgage News

10 Ways to Stimulate the Housing Sector in 2012 – Bryan Dornan wrote an interesting article that promotes ten steps to help eliminate the housing crisis. He makes some aggressive suggestions like eliminating taxes on capital gains and tax credits for 1st time home buying. These may be the types of recommendations needed to get our housing market back on track.

Low Rates from the Federal Reserve Won’t Fix the Economy or Retirees – According to Paul Wiseman, “No matter how much the Fed lower the rates, nervous consumers and wary businesses remain reluctant to spend money or take risks to revive the economy.” The average 30-year fixed rate mortgage declined last week to an annual low of 4.375%.

Is Fannie Mae Buying More Bad Debt from BofA? – According to Origination News, Fannie Mae may be forcing B of A to unload the $73 billion of MSRs because the bank is doing an extremely poor job of managing the receivables.

Measuring the Refinance Demand – The Mortgage Refinance Index jumped 30.4% from the previous week. The four week moving average climbed 13.7%.

Going Online to Find Best Mortgage Lenders – Nationwide offers tips to consumers for shopping lenders on the internet.

Comparing Rates with FHA Lenders – Talk to loan companies that have experience with government lending.

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