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July 2009

Found 2 blog entries for July 2009.

Mortgage Bonds mounted an impressive reversal higher yesterday, after foreign participation in the 7-Year Note auction helped ease market concerns.

In today's news, Advanced Gross Domestic Product for the 2nd Quarter came in better than expected, while the 1st Quarter was revised lower. Overall, GDP has fallen four quarters in a row for the first time since government records started in 1947. The report also showed consumer spending is down, as consumer savings increased to the highest level since 1998.

Currently, prices are higher after some up-and-down movement earlier this morning. I recommend floating for now. But be prepared to act if the situation changes. I will keep you posted

 Courtesy of The Mortgage Market Guide

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The Mortgage Disclosure Improvement Act (MDIA) to Regulation Z of the Truth-In-Lending Act (TILA) goes into effect with all loan applications July 30th 2009 and beyond. What does this mean to you? I am about to tell you.The main purpose for Congress enacting the Truth in Lending Act (TILA) is to enable consumers to make informed use of credit information. To achieve this purpose, TILA requires full disclosures about credit terms and costs. TILA requires creditors to disclose the cost of credit as a dollar amount (the finance charge) and as an annual percentage rate (APR). These baseline requirements in TILA and in the rules under Regulation Z create uniformity in creditors’ disclosures so that consumers can use them in comparison shopping. That being

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