Employment figures for February are due out tomorrow. The expectation is that over 100,000 much needed jobs will have been created last month and that will help sustain economic growth.
More Quotes from 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
Housing start figures in January came in at the highest level in over three decades, due in part to the combination of low rates and a warmer climate across the country.
Frank Nothaft
That raised the expectation that inflation may be more of a threat than was previously thought, and that kind of thinking promotes upward pressure on mortgage rates like we saw across the board this week.
Frank Nothaft
As a matter of fact, low mortgage rates in August led to housing starts in that month that were the second highest in over two decades.
Frank Nothaft
Current economic indicators reflect a lackluster economy, and I think it's safe to say that financial markets will continue to experience volatility, at least until there is some resolution to the current situation in Iraq. Mortgage rates overall continue to be amazingly affordable, and that keeps the housing industry humming. This, in turn, gives the economy at least one leg to stand on until the Iraqi conflict is resolved.
Frank Nothaft
Interest rates in general have been oscillating with every piece of economic news released lately,
Frank Nothaft
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