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The Times' Rorshach Geithner Story
Apr 27 20099:04am EDT -
Sinking Animal Spirits
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Counter-cyclical Urban Policy
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Be Your Own Counterfeiter
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Being Tim Geithner
Apr 25 200912:04pm EDT -
Notes From a Press Conference Naif
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What Good is the News?
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Stressful Enough
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Not Regretting the Pound
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Introducing the New Ford Squeeze
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Non-Economic Questions of the Day
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The Stress Test Blind Alley
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Happy Hour
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Recovery Without Rebalancing
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The Shape of Your Recession
Apr 23 20095:04pm EDT
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Jan 26 2009 10:35am EDT
Mortgage Payment Datapoint of the Day
What happens to home prices when mortgage rates fall sharply?
The median home price was $175,400 in December, down 15.3% from $207,000 in December 2007. The median price in November this year was $180,300...
The average 30-year mortgage rate was 5.29% in December, down from 6.09% in November, according to Freddie Mac.
That's a 2.7% month-on-month fall in home prices, but if you're looking at the monthly mortgage payment with a 20% down payment on the median home price, that fell from $873.16 to $778.33 -- a month-on-month drop of 10.9%. Yikes.
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