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        <title>Panama City Real Estate Blog</title>
        <link>http://www.jennifermackay.com/blog/florida-mortgage-update/</link>
        <description>Local news and information for Panama City, Panama City Beach and Bay County Florida</description>
        <item>
            <guid>http://www.jennifermackay.com/blog/panama-city-beach-real-estate-mortgage-market-update-april-20-2012.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-beach-real-estate-mortgage-market-update-april-20-2012.html</link>
            <author>jenniferim@jennifermackay.com (Jennifer Mackay)</author>
            <title>Panama City Beach Real Estate | Mortgage Market Update April 20, 2012</title>
            <description> <![CDATA[ 

Market Update Week Ending April 20, 2012


Thanks to Jackie Fowler at Regions for this mortgage market update




Investors saw little this week to cause much movement in mortgage rates. The Spanish debt auctions received surprising demand, and disappointing US economic results were not weak enough to shift investor sentiment toward safer assets. In the end, mortgage rates finished the week with little change.


In a market looking for positive economic momentum, this week's data provided little encouragement. With the exception of Industrial Production, every measure announced reflected a slowdown in its rate of economic growth. The growth rate of manufacturing activity saw the biggest drop. Retail Sales growth slowed from last month and Industrial Production showed no growth for the second month in a row. This fresh data may take on more significance as the Federal Open Market Committee (FOMC) meets next week. Economic growth rates were generally on the rise ahead of the last FOMC meeting.


The measures of housing activity released during the week were disappointing as well. The Home Builder Sentiment Index fell for the first time in seven months. March Housing Starts fell 6% from February and Existing Home Sales backed up 2%. The silver lining in all this, though, is that over the last few weeks mortgage rates have moved back to near their historical lows.


Also Notable:




Weekly Jobless claims rose to 386K, the highest since early this year


Spanish bond auctions saw adequate demand


Leading indicators fell to 0.3% from 0.7% last month


Regional manufacturing activity slows from March




The big story next week will be Wednesday's Fed meeting. Investors will be trying to determine the likelihood of additional easing. New Home Sales and Consumer Confidence will be released on Tuesday. Durable Orders will come out on Wednesday. Pending Home Sales will be released on Thursday. First quarter GDP, the broadest measure of economic growth, will come out on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.




Welcome to our Panama City Beach real estate blog.  Please share your thoughts and opinions as comments are always welcome, whether you are a consumer, journalist or another real estate professional. Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additonal information on any of our topics, please contact me directly and I will be glad to assist you.






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            <pubDate>Mon, 23 Apr 2012 11:37:56 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/panama-city-real-estate-mortgage-market-update.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-real-estate-mortgage-market-update.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Panama City Real Estate | Mortgage Market Update</title>
            <description> <![CDATA[ 
Latest Mortgage market update...




Market Update Week Ending March 23, 2012Mortgage rates remained volatile this week, mostly due to shifting expectations about future Fed action. Early in the week, mortgage rates continued last week's move higher. Comments from Fed officials helped them recover their losses later in the week, though, and they ended the week slightly lower.While the Fed does not control mortgage rates directly, it's important to remember that the Fed maintains an enormous influence. Mortgage rates are largely determined by mortgage-backed securities (MBS) prices. One primary reason why MBS have performed so poorly since last week's Fed statement is clear. To boost the economy after the financial crisis, the Fed has taken extreme actions, including the purchase of enormous quantities of MBS, called quantitative easing (QE). This extra demand from the Fed has helped push mortgage rates down to record lows. The Fed has said from the start that these are temporary measures, though, and recent economic conditions have caused reduced expectations for another round of QE. The result is that investors are less inclined to hold positions in MBS if the Fed is no longer expected to be a major buyer.On Wednesday, however, comments from Fed Chief Bernanke caused investors to question whether the shift in sentiment had gone too far. Fed officials may be more concerned about the risk of slower future economic growth than the consensus investor outlook might indicate. Many Fed officials remain open to the possibility that additional monetary stimulus may be called for, and the majority seem to prefer to be too slow to tighten monetary policy rather than too quick. Bottom line, in the near-term, mortgage rates will likely be heavily influenced, higher or lower, by changing expectations for additional Fed MBS purchases.Also Notable:&nbsp;&nbsp;&nbsp; * Jobless Claims fell to the lowest level since February 2008&nbsp;&nbsp;&nbsp; * Building Permits climbed to the highest level since October 2008&nbsp;&nbsp;&nbsp; * The NAHB Housing Market Confidence index was at the highest level since June 2007&nbsp;&nbsp;&nbsp; * The Treasury will auction $99 billion in 2-yr, 5-yr, and 7-yr securities next weekNext week, Pending Home Sales will be released on Monday. Durable Orders, an important indicator of economic growth, will come out on Wednesday. The final revisions to fourth quarter GDP will be released on Thursday. The Fed's preferred inflation measure, the Core PCE price index, will come out on Friday, along with Chicago PMI Manufacturing and Personal Income. Consumer Confidence and Consumer Sentiment will round out a busy week. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.






Welcome to our Panama City real estate blog.  Feel free to share your thoughts and insights as comments are always welcome, whether you are a consumer, journalist or another real estate professional. Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additonal information on any of our topics, please use the contact form and I will be glad to assist you.


    




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            <pubDate>Tue, 27 Mar 2012 09:05:19 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/panama-city-real-estate-market-update1.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-real-estate-market-update1.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Panama City Real Estate Market Update</title>
            <description> <![CDATA[ 
Here's the latest mortgage market update:

&nbsp;



Market Update Week Ending
        February
        24, 2012
    

The Greek bailout package was passed
        on Monday
        as expected, and there was little reaction in US markets. Mixed
        US economic
        data also had little influence. Strong Treasury auctions were
        the biggest
        factor for mortgage rates this week, and rates ended the week a
        little
        lower. 
    

    
Investors are beginning to focus on
        the price
        of oil. Concerns about Iran have pushed oil prices up to the
        highest level
        in nine months. Higher energy prices are bad for consumers and
        the economy.
        Since higher oil prices have two opposite effects on inflation,
        though,
        the impact on mortgage rates is uncertain. Rising energy costs
        add to inflation,
        but they also slow economic growth, which reduces inflationary
        pressures.
        It's not clear which influence will be larger over time. 
    

    
The housing data released this week
        continued
        to be encouraging. January Existing Home Sales rose 4% from
        December to
        the highest level since May 2010. The inventory of listed
        existing homes
        declined 1% to the lowest level since March 2005. January New
        Home Sales
        again exceeded expectations.
    

    

      
Also Notable: 
    

    

European officials
          agreed to
          provide a $172 billion bailout package to Greece 
      

Weekly Jobless
          Claims again
          held close to the 350K level
      

Consumer Sentiment
          rose to
          the highest level since February 2011
      

The Dow rose above
          the 13,000
          level for the first time since May 2008


    
Next week, Pending Home Sales will be
        released
        on Monday. Durable Orders will come out on Tuesday. Revisions to
        fourth
        quarter GDP will be released on Wednesday, along with Chicago
        PMI Manufacturing
        and the Fed's Beige Book. ISM Manufacturing and Core PCE
        inflation are
        scheduled for Thursday. Personal Income, Consumer Confidence,
        and Construction
        Spending will round out a busy week.
    

&nbsp;



Welcome to our Panama City real estate blog.  Feel free to share your thoughts and insights as comments are always welcome, whether you are a consumer, journalist or another real estate professional. Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additonal information on any of our topics, please use the contact form and I will be glad to assist you.


    




 




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            <pubDate>Wed, 29 Feb 2012 09:24:03 -0600</pubDate>
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            <guid>http://www.jennifermackay.com/blog/panama-city-homes-and-condos-real-estate-market-summary2.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-homes-and-condos-real-estate-market-summary2.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Panama City Homes and condos | Real Estate Market Summary</title>
            <description> <![CDATA[ 
Thanks to Jackie Fowler Mortgage Loan Originator at Regions Mortgage for this update




Increased concerns about Europe helped mortgage rates improve this week, although the impact of the recently passed extension to the payroll tax reduction is beginning to push up mortgage rates for certain loans (discussed below). 


The news from Europe was mostly negative this week. Economic growth in Germany was slower than expected. Negotiations on restructuring Greek debt did not progress as planned,         increasing the risk of default. S&amp;P is downgrading the debt of several European countries,
 including France. Finally, the European Central Bank (ECB) provided no relief, as it gave no indication that it would increase the level of aid available to troubled countries. As a result, investors shifted funds to relatively safer investments, including US mortgage-backed securities (MBS), which helped mortgage rates move lower.


The recently passed extension to the
        temporary
        payroll tax reduction contained a lightly publicized revenue
        raising provision
        to increase the guarantee fees charged on Fannie Mae and Freddie
        Mac loans.
        This fee results in higher rates for borrowers, and mortgage
        rates for
        loans not expected to close within the next month or so have
        begun to reflect
        this coming increase in guarantee fees.





      Also Notable: 



Consumer Sentiment
          jumped to
          the highest level since May 
      

Retail Sales
          ex-autos posted
          its first monthly decline since May 2010 
      

The Fed's Beige
          Book reported
          that economic activity expanded at a &quot;modest to moderate&quot; pace
        
      

The European
          Central Bank (ECB)
          made no change in rates




The most significant economic data
        next week
        will be the monthly inflation reports. The Producer Price Index
        (PPI) focuses
        on the increase in prices of &quot;intermediate&quot; goods used by
        companies
        to produce finished products and will come out on Wednesday. The
        Consumer
        Price Index (CPI), the most closely watched monthly inflation
        report, will
        come out on Thursday. CPI looks at the price change for those
        finished
        goods which are sold to consumers. In addition, Industrial
        Production,
        an important indicator of economic growth, will come out on
        Wednesday.
        Housing Starts will be released on Thursday, and Existing Home
        Sales will
        come out on Friday. Philly Fed and Empire State will round out
        the schedule.
        Mortgage markets will be closed on Monday in observance of MLK
        Day.




   

Welcome to our Panama City real estate blog.  Feel free to share your thoughts and insights as comments are always welcome, whether you are a consumer, journalist or another real estate professional. Our blog includes local and relevant national real estate information, Condo and Home market statistics, personal and professional insights and information about various neighborhoods, subdivisions and listings. If you would like additonal information on any of our topics, please use the contact form and I will be glad to assist you.


    




 




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            <pubDate>Fri, 20 Jan 2012 08:09:15 -0600</pubDate>
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            <guid>http://www.jennifermackay.com/blog/panama-city-mortgage-update.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-mortgage-update.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Panama City Mortgage Update</title>
            <description> <![CDATA[ 
Panama City Homes | Market Update 

Here is the latest mortgage market update for the Panama City Real Estate market area provided by Jackie Fowler:



    Market Update Week Ending July
        1,
        2011
    
This week's economic news was nearly
        all positive,
        and the stock market posted a strong rally. Unfortunately,
        what's good
        for stocks is generally unfavorable for mortgage rates. Progress
        on the
        Greek aid package and stronger than expected US manufacturing
        data, along
        with the end of the Fed's bond buying program, combined to push
        mortgage
        rates higher this week. 
    

    
While the Fed made known months ago
        that its
        $600 billion quantitative easing program would end on June 30,
        investors
        have been uncertain what the impact would be. Since the program
        started,
        Fed purchases have accounted for roughly 85% of the total new
        Treasury
        issuance. The loss of this significant source of demand makes
        investors
        less willing to purchase Treasury securities, and
        mortgage-backed securities
        (MBS), at what have been historically low yields. Yields had to
        rise to
        attract investors. 
    

    
Part of the improvement in mortgage
        rates
        in recent weeks was due to the economic troubles in Greece.
        Investors shifted
        to relatively safer investments such as US government guaranteed
        bonds,
        including MBS. This week, however, an aid package for Greece
        took a major
        step forward. Despite widespread strikes and demonstrations, the
        Greek
        government voted to adopt the new austerity measures required
        for Greece
        to receive the aid. With the successful vote, the short-term
        uncertainty
        decreased, and investors reversed the flight to safety, selling
        bonds and
        buying stocks. 
      
    

    
Also Notable: 
    

    

April Pending Home
          Sales increased
          8%, the strongest monthly gain since November 2010 
      

May Core PCE
          prices were a
          tame 1.2% higher than one year ago 
      

Jobless Claims
          have remained
          above the 400K level for twelve straight weeks 
      

The Fed's Bullard
          suggested
          that Fed stimulus impacts the economy with a lag of many
          months


    The
      biggest economic event next week will be the important Employment
      report
      on Friday. As usual, this data on the number of jobs, the
      Unemployment
      Rate, and wage inflation will be the most highly anticipated
      economic data
      of the month. Before the employment data, Factory Orders will come
      out
      on Tuesday. ADP Employment and ISM Services will be released on
      Wednesday.
      Mortgage markets will be closed on Monday for July Fourth.

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            <pubDate>Wed, 06 Jul 2011 08:32:15 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/mortgage-market-update-week-ending-may-27-2011.html</guid>
            <link>http://www.jennifermackay.com/blog/mortgage-market-update-week-ending-may-27-2011.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Mortgage Market Update Week Ending May 27, 2011</title>
            <description> <![CDATA[ 
Panama City Homes | Market Update 

Latest mortgage information and market update provided by Jackie Fowler...



Many factors were favorable for mortgage rates this week. Weaker than expected economic data, strong results for the Treasury auctions, and renewed concerns about weaker European countries all helped mortgage rates end the week at the lowest levels of the year.

All of the major economic data released during the week was weaker than expected. First quarter Gross Domestic Product (GDP), the broadest measure of economic growth, was unchanged at 1.8%. Most investors expected the figures to be revised higher to at least 2.0%. April Durable Orders fell 4% from March, which was the largest monthly decline since October 2010. Weekly Jobless Claims unexpectedly increased. These measures suggest reduced inflationary pressure, which is good for mortgage rates. In addition, the Core PCE price index confirmed that inflation remains very low.

Uncertainty in Europe also helped US mortgage rates improve. There is no clear solution to the debt problems of Greece, and the parties involved in aiding Greece disagree on what approach to take. European Central Bank (ECB) officials stated that Greece must adopt tough austerity measures to remain a member of the Euro zone. Greece has already sharply reduced spending, though, and further cuts will be difficult politically, increasing the likelihood of a default on Greek government debt. Investors also grew more concerned about similar problems in Spain and Portugal. Spending cuts or debt defaults are expected to lead to slower global economic growth.


Also Notable:

The April Core PCE inflation index increased at a low 1.0% annual rate

April New Home Sales rose 7% from March

The Feds Kocherlakota lowered his forecast for 2011 economic growth

Oil prices remained near $100 per barrel, down from $115 per barrel a few weeks ago 


Week Ahead 

The biggest economic event next week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before the employment data, the Chicago PMI Manufacturing index will come out on Tuesday. The ISM Manufacturing index, ADP Employment, and Construction Spending will be released on Wednesday. Productivity and Factory Orders will come out on Thursday. ISM Services and Consumer Confidence will round out the schedule. Mortgage markets will be closed on Monday for Memorial Day.Copyright @ 2011 MBSQuoteline Compliments of:Jackie FowlerRegions Bank. Member FDIC 

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            <pubDate>Mon, 06 Jun 2011 09:52:10 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/market-update-week-ending-may-6-2011.html</guid>
            <link>http://www.jennifermackay.com/blog/market-update-week-ending-may-6-2011.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Market Update Week Ending May 6, 2011</title>
            <description> <![CDATA[ 
Panama City Homes | Market Update 

This market update is brought to you by Jackie Fowler at Region's Bank:

&nbsp;



Weaker than expected data helped mortgage rates improve for most of the week, but Fridays Employment report then surprised to the upside, causing mortgage rates to give back some of the improvement. In the end, as they have for each of the last few weeks, mortgage rates finished the week a little lower.Against a consensus forecast of 185K, the economy added 244K jobs in April. Revisions to data from prior months added another 46K jobs. The private sector added 268K jobs, which was the highest level since February 2006, and the gains were broad-based across a range of sectors. The Unemployment Rate unexpectedly increased to 9.0% from 8.8% in March, as the labor force grew. When people begin to look for work, they are added to the labor force. Aside from the expected weakness in government jobs, this report was encouraging news for the labor market across the board.

Fridays Employment report particularly stood out in contrast to the much weaker than expected economic data released earlier in the week. Wednesdays ISM Services data, indicating the strength of the services sector, showed a sharp decline, and was far below the consensus forecast. Thursdays Jobless Claims report then showed a significant increase, which was also a big surprise to investors. Going forward, investors will be trying to determine whether the strong Employment report or the other weaker data better reflects the current strength of the economy.

Also Notable:


Weekly Jobless Claims jumped to the highest level since August

As expected, the European Central Bank (ECB) made no change in rates

Oil prices dropped sharply, falling below $100 per barrel during the week

The Treasury will auction $72 billion in 3-yr, 10-yr, and 30-yr securities next week


Week Ahead

The most significant economic data next week will be the monthly inflation reports. The Producer Price Indexfocuses on the increase in prices of &ldquo;intermediate&rdquo; goods used by companies to produce finished products andout on Thursday. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will comeFriday. CPI looks at the price change for those finished goods which are sold to consumers. In addition, Retailbe released on Thursday. Retail Sales account for about 70% of economic activity. Import Prices and the Tradewill round out the week. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.
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            <pubDate>Mon, 09 May 2011 10:27:09 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/panama-city-real-estate-market-update.html</guid>
            <link>http://www.jennifermackay.com/blog/panama-city-real-estate-market-update.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Panama City Real Estate Market update</title>
            <description> <![CDATA[ 
The Panama City Real Estate market summary for August 2010 has been published for your convenience.

An interesting aspect of the market numbers is that if we were not faced with a recession/depression the numbers indicate we would be entering a sellers market.

Home sales were up from July, however the price of homes decreased significantly.

Condo sales decreased slightly as prices remained about the same as July.

Banks and lenders continue to foreclose at an alarming rate, shortsales and foreclosures are now the market norm and there is no end in sight.

On the bright side, Panama City homes and condos that are not in foreclosure or short sale status and are priced correctly are sold very quickly - usually in less than 30 days.

&nbsp;

&nbsp;
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            <pubDate>Tue, 07 Sep 2010 09:57:18 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/the-ecomomic-disaster-act-and-you.html</guid>
            <link>http://www.jennifermackay.com/blog/the-ecomomic-disaster-act-and-you.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>The Ecomomic Disaster Act - and you...</title>
            <description> <![CDATA[ 
If you've read my other blog - Panama City Real Estate Blog about some of the decisions lenders are making in large part thanks to the so called Economic Recovery Act you can understand my frustration.

Are lenders losing their insanity?&nbsp; Are the people in charge of the decision making process actually qualified to make these decisions?

I have to wonder at the competency of these people.

Perhaps they are more interested in taking a loss on their books than actually helping tax paying, home owners in the United States?

What do you think?

Are lenders taking advantage of a hand out for tax gains that should have been issued to home owners?

Should our government investigate the practices of these lenders?

Where are our elected officials, what are they doing to help? 

HELLO... Mr. President&nbsp; - Is any one listening?&nbsp; HELLO... Senators and Congress - IS ANYONE THERE???? &nbsp; 

&nbsp;I am beside myself with anger and frustration.
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            <pubDate>Fri, 27 Aug 2010 06:08:00 -0500</pubDate>
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            <guid>http://www.jennifermackay.com/blog/fannie-adds-incentive-to-avoid-foreclosure.html</guid>
            <link>http://www.jennifermackay.com/blog/fannie-adds-incentive-to-avoid-foreclosure.html</link>
            <author>jenniferim@jennifermackay.com (Super Admin JenniferMackay.com)</author>
            <title>Fannie Adds Incentive to Avoid Foreclosure</title>
            <description> <![CDATA[ 
Just released - Fannie Mae foreclosure incentives...

Source: The Wall Street Journal, Nick Timiraos (04/26/2010)&nbsp;




Beginning in July, Fannie Mae will allow
financially troubled home owners to complete a &ldquo;deed in lieu of
foreclosure&rdquo; or a short sale and be eligible to apply for a new
Fannie-backed mortgage in two years.

Currently, borrowers who have completed a
deed-in-lieu must wait four years to apply for a loan that Fannie will
purchase. Home buyers who go through foreclosure must wait five years. 

All these waiting periods can be reduced further, if the potential buyer can show extenuating circumstances. &quot;We are beginning to think about post-recession, how you address borrowers
who became unemployed through no fault of their own ... and now deserve
the right to re-enter the housing-finance system,&quot; said Federal Housing
Association Commissioner David Stevens.


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            <pubDate>Mon, 26 Apr 2010 15:32:23 -0500</pubDate>
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