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Quicken Loans Capital Markets Update for August 19, 2009

Bond Markets are up this morning as world markets sold off overnight with China’s Shanghai Composite Index weighing in heavily with a slide of 4.3%. The Federal Reserve is preparing to buy U.S. debt for a second time this week, which is also helping push 10-year Treasury yields to a five week low.

Please note that in contrast to our fixed rates, ARM pricing is slightly worse this morning because of the large surge in supply. This surge has in turn dampened the demand for ARMs.

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