News like that is good news for keeping long-term fixed-rate mortgage rates low since those are more sensitive to inflationary expectations.
More Quotes from Frank Nothaft:
Saving half a percentage point in interest accumulates over time.Frank Nothaft
With no big economic news to influence the direction of mortgage rates this week, the numbers drifted very slightly upward. We see this trend continuing throughout 2006, with the 30-year fixed rate mortgage ending the year at about 6.3 as the housing market eases back from last year's record setting levels toward a somewhat more normal rate of activity.
Frank Nothaft
Our January forecast calls for a gradual rise in long-term rates throughout 2006, ending the year at about 6.5 percent for the 30-year fixed-rate mortgage, while relative rate differences with adjustable-rate mortgages will narrow.
Frank Nothaft
Although the economy in the final quarter of 2002 looks to be weaker than the third quarter, the housing sector still radiates vitality and vigor. We continue to see new records being set, both in the low cost of mortgages and the volume of business carried out this year.
Frank Nothaft
Speculation that the Fed will not raise interest rates any time soon should help restrain any upward pressure on mortgage rates.
Frank Nothaft
With mortgage rates low and consumer confidence high, Freddie Mac economists expect the housing market to remain strong in the months ahead.
Frank Nothaft
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