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Fundamentals 8/10: What If Bernanke Was A CFO?

MBA Mortgage Applications for week ending 8/5 -Purchase Index Week/Week: -0.9% -Refinance Index Week/Week: +30.4% -Composite Index Week/Week: +21.7 -Refinance index driven up by very low rates. -Purchase index indicates that housing is still quite soft. Yesterday’s FOMC statement that interest rates would remain low for the next two years was a reaction to the