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Excerpt from: Greater Phoenix trends and statistics

Residential Mortgage Rates Are Lower

September 15, 2007

Will the Phoenix real estate maket improve as a result of the lower interest rates and the anticipated rate cut by the Fed?

The Fed may decrease the Funds Rate by 25 or 50 basis points next week on September 18, but will it be enough or is it too late? As a result of the anticipated cut, mortgage interest rates declined. This cut has been much anticipated.
The Fed may cut rates because of the recent weak job reports, unstable financial markets and overall cooling of the economy.
This last week, the Mortgage Bankers Association reported more applications for residential real estate loans, over the last 30 days.


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Topic Tags: Fed Funds Rate, home mortgages in phoenix, mortgage interest rates, phoenix real estate

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