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Mortgage Market Update

Plagued by the harsh winter weather in the first quarter of 2014, Home Depot today reported that sales and net income rose, but came in below expectations. The company earned 96 cents per share when estimates called for 99 cents. However, May sales were robust and the home improvement company raised its full-year earnings forecast.

Headed to Disneyland in Anaheim, California this summer? Be prepared to shell out a few extra dollars to get into the park. The price for a “One Day Parkhopper” rose by 10% to $150 a day. The price hikes in Disneyland comes a few months after a 4% price increase in Disney parks in Orlando for single day tickets.

The Mortgage Bankers Association reportedly cut its loan origination forecast to $1.05 trillion citing low purchase application volume. Slowing growth in employment and wages are the catalysts behind the reduced forecast. Last year the industry saw $1.8 trillion in loans, while the January forecast was $1.12 trillion before the latest updated projection of $1.05 trillion.

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