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admin
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Joined: 14 Jul 2005
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Location: Greater Boston
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 Posted: Mon Jun 21, 2010 12:23 pm GMT Post subject: |
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Perhaps Rogers should have a chat with the guy who took over his post at The MAR. Current MAR president Kevin M. Sears has said that recent increases have been "entirely due to the tax credit." I know who I think is right. We may have to wait longer than expected to find out, though, given that there is a bill pending which would extend the deadline for closing and getting the tax credit to September 30th. (That would only affect the closing deadline.)
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john p
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| Posted: Mon Jun 21, 2010 3:33 pm GMT Post subject: |
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I think this year is not only helped by this Credit, but the extremely low mortgage rates available to those that qualify...
Also, keep in mind that with numbers like these you're comparing miserable to pitiful and pitiful might be 31% better than miserable? |
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admin
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| Posted: Mon Jun 21, 2010 3:51 pm GMT Post subject: |
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| john p wrote: | | I think this year is not only helped by this Credit, but the extremely low mortgage rates available to those that qualify... |
Yes, for sure. I think that the tax credit was the biggest factor driving volume, by far, but super low mortgage rates were a close second in driving price. The tax credit is gone now and the super low mortgage rates might follow suit, depending on how long and far China allows their currency to float. Yields on 10 year Treasuries are up a little over 20% for the day as the floating began. It's still really low compared to what it has been historically, but this is just the beginning. China is limiting how far the Yuan is allowed to advance per day.
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admin
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| Posted: Tue Jun 22, 2010 8:04 pm GMT Post subject: |
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| admin wrote: | | Yields on 10 year Treasuries are up a little over 20% for the day as the floating began. |
And now they are back down. So much for that trend.
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