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		Drake Bloebaum Mortgage Professional Neo Home Loans Phone: 801-893-0452 License: NMLS 225567 CA-DOC 225567 drakeb@neohomeloans.com www.drakebloebaum.com

August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013		On the Up and Up: Housing, Rates and Gas Prices In mid-July, Federal Reserve Chairman Ben Bernanke attempted to soothe the markets' fears about home loan rate increases. As a result, Bond prices bounced higher from lows not seen in two years, and Stocks traded at all-time highs. Indeed home loan rates have certainly moved up a little, down a little. Bernanke also repeated that the Fed Funds Rate, which is the rate at which depository institutions actively trade, would remain low for an extended period. He said that if circumstances warranted, "tapering" could begin later this year and end sometime in mid-2014. And just if you weren't sure what "Tapering" was, it's a reduction in the Fed's purchases of Treasury and Bond assets, in attempts at helping the economy get back on track. As the economy continues to improve stateside, political turmoil in Egypt has caused a spike in oil prices, keeping the region under close scrutiny. Also of note is the recent downgrade of Italian credit by S&P. Spain could be next. Housing continues to be a bright spot for the economy, with the purchase index inching up and proving that people are out buying houses and using credit! The National Association of Home Builders also confirmed that builder confidence rose last month to its highest level in over seven years. Despite the recent rise in home loan rates, they remain low when compared to historical levels. If you have any questions about your personal situation, contact the professional who supplied you with this month's issue of YOU Magazine.

Loans originated in the States of California and Washington are done under the DBA CHL Mortgage. Loans originated in CO are Regulated by the division of Real Estate. Corporate NMLS #67180 You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Drake Bloebaum. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials. INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe. SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online. UNSUBSCRIBE: If you would like to stop receiving emails from Drake Bloebaum, you can easily unsubscribe.

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