Don’t look now, but the bottom is falling out of analysts’ estimates of how fast the economy grew from April to June. As recently as Monday, forecasters figured that gross domestic product grew at a 3% to 3.5% rate in the second quarter — not fast enough for anyone to crow about, given that the US economy is producing far below its potential, but at least fast enough that the nation seemed to be gaining economic ground.
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United Wholesale Mortgage announced Tuesday it is rolling out a new loan program that offers borrowers an interest rate as low as 1.99% for both purchase mortgages and refinances.
On Wednesday night the FHFA rolled out a new adverse market refinance fee of 0.5%, which will be assessed for loans sold to Fannie Mae or Freddie Mac after Sept. 1.