Declines in work productivity coupled with accelerating labor costs increase the threat of inflation down the road.
More Quotes from Frank Nothaft:
The Producer Price Index for April, released today, showed a considerably larger decline than had been expected, reaffirming market concerns about the state of the economy. However, the Consumer Price Index for April that will come out tomorrow will give us a much more comprehensive picture of what is actually happening.Frank Nothaft
Mortgage rates can fluctuate from week to week depending on market conditions and expectations. That is probably what happened this week. Nonetheless, long-term mortgage rates are at about the same low level they were at this time last year. So it isn't surprising that the housing industry continues to thrive.
Frank Nothaft
For the typical family, home equity accounts for the bulk of their wealth.
Frank Nothaft
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,
Frank Nothaft
There were further signs this week that the economy may be finally taking a turn for the better, ... Evidence of this change in momentum can be seen in the Fed's remarks yesterday that it was taking a neutral bias in terms of future intervention.
Frank Nothaft
Corporate accounting concerns caused fierce investor buying of U.S. Treasury bonds, thereby lowering their yields. Other long-term interest rates followed suit in bringing fixed-rate mortgage rates within a slim margin of their 30-year record low set last November.
Frank Nothaft
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Dancing is a sweat job.
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The Framers of the Constitution knew that free speech is the friend of change and revolution. But they also knew that it is always the deadliest enemy of tyranny.
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