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The American

September 1 - George Clooney stars as an assassin who makes some risky friends while waiting in Italy for his final job.

Resident Evil: Afterlife

September 10 - In the latest piece of this saga Alice and Claire try to save survivors from the encroaching T-Virus while making their way to the supposedly-safe city of Los Angeles.

I'm Still Here

September 10 - A documentary chronicling the career shift of Joaquin Phoenix from actor to rapper.

Easy A

September 17 - A high school comedy where a wallflower turns into Ms. Popular after creating a promiscuous but false reputation for herself. Loosely based and connected to the classic novel The Scarlett Letter.

The Town

September 17 - Ben Affleck stars as a long-time thief who tries to strike up a relationship with a teller at the bank he recently robbed. At the same time, the investigator on the case is also interested in her.

Devil

September 17 - This new M. Night Shyamalan movie depicts a bunch of people stuck in an elevator together who realize that the Devil is in their midst.

Alpha and Omega

September 17 - An animated tale of two deported wolves trying to make it back to their native Canada.

Wall Street : Money Never Sleeps

September 24 - Michael Douglas and Shia LaBeouf star in this mystery as a fallen stockbroker, and young trader, respectively, who try to track down a killer and uncover the secret of a looming financial disaster.

You Again

September 24 - Lots of big-name comedic women star in this film about a girl trying to show her brother his new fiancee is not the girl he thinks she is.

Legend of the Guardians: The Owls of Ga'Hoole

September 24 - Based on the children's book series, this tale delves into the world of a young barn owl named Soren and his quest to fight evil.

Mortgage Rate News & Analysis

Week after week, long-term home loan interest rates dropped further into record low territory in August, according to mortgage giant Freddie Mac, continuing their trend of the past two months.

August 5

The month began with a dramatic drop below five-and-a-half percent for 30-year fixed rate mortgage (FRM). The average rate, excluding points, fell to 4.49 percent the first time in the history of the 40-year, down from 4.54 percent the week before. Fifteen-year FRMs carried and average rate of 3.95 percent, down from 4.00, and one-year adjustable mortgages (ARMs) sank to 3.55 percent from 3.64 percent a week earlier.

Frank Nothaft, Freddie Mac vice president and chief economist, said the rate decrease was essentially due to reports of slow GDP growth."And yet again, interest rates for fixed-rate mortgages ...fell to all-time record lows this week following the second quarter GDP release. Annual revisions cut the cumulative GDP growth in half over the past three years ending in the first quarter of 2010 from 1.4 percent to 0.6 percent. This reduces inflationary pressures and allows longer-term rates room to ease.

August 12

During the second week, rates slipped down again, with the 30-year FRM average at 4.44 percent, the 15-year FRM rate averaging 3.92 percent and the one-year ARM inching down to 3.53 percent.

August 19

Although not by much, rates continued to descend in the next week. The 30-year FRM rate eased to 4.42 percent, the 15-year FRM to 3.90 percent and the one-year ARM was unchanged at 3.53 percent.

August 26

More bad economic news sent rates plunging to new lows at the end of August. "Existing home sales plunged 27 percent in July, while new homes fell 12 percent to a new all-time record low, which led to some market concerns that the housing market may slow the economic recovery," said Amy Crews Cutts, Freddie Mac deputy chief economist. "As a result, long-term bond yields fell to the lowest levels since January 2009, allowing fixed mortgage rates to ease to new record lows this week."

The 30-year FRM average ended the month at 4.36 percent, the 15-year FRM moved down to 3.86 percent, and the one-year ARM stepped down to 3.52 percent.

What's Next for Interest Rates?

Even though a few months ago it would have been inconceivable to think of rates sinking as low as they now are, the market data has given so many hints of delayed recovery that it is still possible for rate to decline again in September.

articles copyrighted by RealEstate ABC and may not be reprinted or copied.


Paul Stalker
Coldwell Banker
9380 Baltamore National Pike
Ellicoett City MD 21042

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Paul Stalker
Weichert Realtors
Ph: 410-381-3331
6925 Oakland Mills Rd. Ste. A
Columbia, MD 21045
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