Do folks here in the US and in the mortgage business have any good news to cheer about, besides rates not being 11%? Some are dealing with changes in FHA lending and the effect on condominiums. The markets and interest rates are facing the end of the Fed's purchases of mortgage backed securities and the end of the first time homebuyer tax credit ($8000). The economy does not appear to be rebounding enough to generate much home buying interest, the unemployment rate is hovering around 10%, and foreclosure filings are not yet abating.

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