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Thursday, July 9, 2009

Good News, Bad News on Interest Rates

Back to 5%?

The good news on mortgage interest rates?

After a steep climb the last two months or so, to around 5.5% on 30-year mortgages, they've now fallen back closer to 5%.

The bad news?

The reason is that the latest batch of economic news -- unemployment, economic activity, the housing market -- shows continued weakness.

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