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Mortgage rates holding firm despite Fed cuts


jq26
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Fed cuts used to mean lower rates because mortgage money used to track treasury bills. No longer. The mass exodus of investors of mortgage backed securities have left a gaping hole in demand for these things. With less demand, mortgage rates must remain a bit higher to attract the investor's money (the money in which you buy your home).

So what rates do from this point forward is anyone's guess.

http://biz.yahoo.com/cnbc/080318/23690581.html

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