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ARAMCO Report - Tuesday May 13, 2014

Posted by Mehran Aram on Tue, May 13, 2014 @ 16:05 PM

A much weaker than expected reading on retail sales gave the bond market a boost and pushed the 10 year treasury yields down to 2.60 %. Retail sales in March rose by only 1/10th of a %, suggesting slower economic growth in the second quarter. Conforming no point 30 year fixed mortgage rates now average 4 1/4 % with 15 year rates closer to 3 1/4 %. Meanwhile according to the Corelogic Case Shiller indices home price appreciation in 2014 is expected to be less than 1/2 of what it was.

And now for something completely different: Did you know that the plastic pink flamingo is the official city bird of Madison, Wisconsin? 

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This is Mehran Aram with today's ARAMCO Report.

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Topics: Reverse Mortgage, Aramco Report, and now for something completely different, San Diego, Mehran Aram, bond market, economic growth, Wisconsin, Corelogic Case Shiller, Mortgage rates, Madison