Rate snapshot: New home sales expected to drop, big banks back away from FHA

SOURCE: Mortgage News Feed

The stock market continues to attract more investment, the interest rate markets continue to fail at critical technical levels. The Ukraine/Russia concern appears to be lessening somewhat. The US and Europe continue to resist adding additional sanctions on Russia as Russia continues to arm Ukraine separatists. The Q2 earnings are coming in overall better. The IMF yesterday reduced its outlook for 2014 US growth from 2.0% in June to 1.7% now.

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