With still little or no threat of inflation to be found, long-term mortgage rates this week had some breathing room and that allowed rates to drift a little lower,
More Quotes from Frank Nothaft:
Just when we were sure mortgage rates couldn't possibly drop any lower, we were surprised yet again, ... Current issues such as the possibility of military actions abroad, heightened terrorism alerts, and an unexpected drop in consumer confidence contributed to the decline in mortgage rates this week.Frank Nothaft
Lower oil prices at least compared to the last several months have helped to alleviate some of the inflation fears that the market has been experiencing lately.
Frank Nothaft
The vast majority of homeowners who have fixed-rate mortgages probably won't be affected at all.
Frank Nothaft
Freddie Mac economists expect mortgage rates will fluctuate for the rest of the year, but shouldn't rise over six percent. And compared to last year's average of 6.5 percent, today's rates are still incredibly affordable.
Frank Nothaft
Although inching upwards, the average 30-year fixed-rate mortgage rate for the month of July was lower than the annual averages since our survey began in 1971.
Frank Nothaft
Despite strong signs of economic growth, the financial markets were nonplussed, leaving mortgage rates to hover around the same affordable level for yet another week,
Frank Nothaft
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