As if all that wasn't enough, the devastation caused by Hurricane Katrina and the echo effects on future energy prices in the U. S. may mean that mortgages rates will fall even further in the coming days ahead.
More Quotes from Frank Nothaft:
Not only did the market get good news about September employment last week, but it was further bolstered by the upward revision of jobs in August, ... This inspired a little optimism in the market that we may have bottomed out as far as job losses are concerned.Frank Nothaft
The political and economic uncertainty of war in Iraq is wearing on the confidence of consumers and restraining business expansion. And that, in turn, translates into a weaker economy which places downward pressure on interest and mortgage rates.
Frank Nothaft
Over the past few weeks, financial markets have been gearing up for greater growth in the economy, which ultimately leads to higher inflation rates. As a result, mortgage rates increased for the second time this week.
Frank Nothaft
There continues to be no sign of inflation on the horizon and, as a matter of fact, core inflation is at a generational low.
Frank Nothaft
The decline in mortgage rates was primarily due to a weak employment report for September, which suggested economic growth is still a bit subdued. As a result, we expect mortgage rates will continue to stay quite affordable over the next few months, benefiting future homebuyers,
Frank Nothaft
We may see a market reaction to the release of September employment numbers due out tomorrow. It could potentially alter the momentum of mortgage rate change in the near future.
Frank Nothaft
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