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Mortgage News for Tuesday - March 14, 2006

More Mortgage News
• Less refinance mortgage, slower market to blame
• Metro man arrested in mortgage fraud sting
• Mortgage regulators target predators
• Budget deficits endanger U.S. economy
• U.S. Economy: Retail Sales Decline
• US mortgage rates dropped Tuesday
Mortgage News
U.S. Economy: Retail Sales Decline - 2006-03-14
Retail sales in the U.S. were lower last month after the biggest gain in more than four years as the return of cold weather turned off shoppers. The decrease in sales may prove temporary as a strengthning labor market provides Americans the wherewithal to spend more. Steady demand from consumers is also causing the trade deficit to grow as imports of clothing and electronics jump.
Read the full story at Bloomberg
 
US mortgage rates dropped Tuesday - 2006-03-14
The average rate on a 30-year U.S. mortgage with no upfront points decreased 1/8 of a percentage point on Tuesday to 6-1/2 percent. If the mortgage market on Wednesday maintains its present course, rates may remain the same. The 30-year mortgage rate with one upfront point dropped 1/8 of a percentage point to 6-1/4 percent.
Read the full story at Reuters
 






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