ARAMCO Report - The Mother of ALL Mortgage Blogs!

ARAMCO Report - Wednesday May 7, 2014

Posted by Mehran Aram on Wed, May 7, 2014 @ 16:05 PM

Federal Reserve Chairwoman Janet Yellen offered a very upbeat assessment of the economy in a congressional testimony, but reiterated the Fed’s commitment to keep interest rates low for a considerable time. Meanwhile mortgage applications last week rose by 5.3 percent thanks to a big jump in home buying activity. Mortgage rates remain at their lowest level of the year with conforming no point 30 year fixed rates averaging 4 1/4 percent and 15 year rates closer to 3 1/4.

And now for something, completely different: In 2008, former Minor league pitcher, John C. Odom was traded to the Loredo Broncos for 10 maple baseball bats worth a total of $665.

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This is Mehran Aram with today's ARAMCO Report.

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Topics: Aramco Report, and now for something completely different, home buying, San Diego, Mehran Aram, John Odom, Janet Yellen, congressional testimony, Federal Reserve, Mortgage applications, Loredo Broncos, Mortgage rates