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How can credit scores be so good when a downturn is increasingly likely?
After the housing bubble burst, consumers have been less willing to tap into equity on their homes
Volume was up 5% over the previous week thanks to long term interest rates falling again
Overall National Home Price Index rose over 3% in July
Fannie jumped 26% to $3.42 late Monday morning, Freddie Mac rose 25% to $3.22
An uncertain economy with no sense of urgency to lock in on a low rate leaves little incentive to move quickly
Moderate Income earners are likely priced out of the market, particularly in major cities
“That would be like pressing on the gas and the brakes at the same time.”
Not every bank customer is prepared to take advantage of the situation if the rates go lower
Treasury yield curve inverted for the first time since the last crisis on Friday
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