This is a good sign that housing activity, although slowing from record levels set in the past few years, will continue to remain healthy this year.
More Quotes from Frank Nothaft:
Feeling more comfortable about the upcoming economic rebound, the financial markets relaxed a bit this week. With the market more settled this week, interest rates on fixed-rate mortgages eased this week to the lowest rate in five weeks.Frank Nothaft
When taken as a whole, this week's economic data point towards both low mortgage rates and a growing economy, both of which are good news for current homeowners looking to refinance and for families hoping to become homeowners.
Frank Nothaft
News like that is good news for keeping long-term fixed-rate mortgage rates low since those are more sensitive to inflationary expectations.
Frank Nothaft
Previous years pale in comparison.
Frank Nothaft
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.
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
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