Since 1971 there have been only five months when mortgage interest rates were lower, and all of those have been during the last year and a half.
More Quotes from David Lereah:
The interest rate on a 30-year, fixed-rate mortgage has dropped one-and-a quarter percentage points in the last year -- that means there are about 300,000 additional households who can afford to buy a home today that couldn't qualify for a loan a year ago. Although the slowing economy is causing a little drag on the market, consumers who are confident about their own future are going ahead with big-ticket purchases like homes and cars.David Lereah
The housing sector continues to be very, very healthy in a very weak economy.
David Lereah
Given the demands of a growing population, and with real estate becoming the safe haven for investment, many factors are in place for a continuation of strong home sales.
David Lereah
This is a big number any way you slice it, and housing is continuing to stimulate the overall economy.
David Lereah
Last year was the second lowest year on record since Freddie Mac started tracking mortgage interest rates in 1971, and that is one of the fundamental factors in the favorable market conditions that we expect to prevail for this year as well.
David Lereah
Our in-house tracking of major brokers across the country shows sales activity making some recovery, ... which demonstrates that the underlying demand and fundamentals of the market remain strong.
David Lereah
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