Frank Nothaft Quotes on Sales (8 Quotes)

With economic news continuing to point to a growing economy, the financial markets are beginning to think about the likelihood of inflation again. Not only that, but jobs creation, retail sales, and consumer prices jumped in March which buoyed market speculation that the Federal Reserve Board will raise rates sooner than expected. Add all that to the mix and mortgage rates were bound to rise this week.

This new millennium has proven to be very homeowner friendly. For instance, in the last four years we have set records in housing starts, housing sales, low mortgage rates, refinancing volumes and total mortgage originations,

Continued low mortgage rates open the housing market to a broader segment of the population and contribute to the on-going vitality in home sales. And, since mortgage rates are expected to remain low until the economy picks up more steam, the housing sector should stay active and healthy for some time to come.

The fixed-rate mortgage rates are lower this week than last as fears of inflation subsided somewhat. But rates are still higher than they were in April when we saw a slowdown in housing sales.

And with mortgage rates at their lowest level in six months, home sales should continue strong through the autumn months.

Our Primary Mortgage Market Survey results this week show mortgage rates slipping again, which will all but guarantee that the housing industry will continue at its robust pace and set yet again, another record for both new construction and overall home sales.

Mortgage rates were largely unchanged this week, amid a sobering December jobs report and growing tensions in the (Middle East) and the Korean peninsula. Disappointing retail sales, a struggling manufacturing sector, and mild business investment are all holding mortgage rates in the six-percent range.

Meanwhile, home construction remains strong and home sales continue to break records easily. In fact, total home sales should end the year two percent higher than 2003's all time record level.