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.
More Quotes from Frank Nothaft:
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.Frank Nothaft
The release of the August jobs report showed a continuation of the jobless recovery...this, of course, caused interest rates, including mortgage rates, to ease back from the highest level we had seen in a year.
Frank Nothaft
Employment figures released recently, along with the information garnered in the Beige Book, support the market's notion that the economy is beginning to slow, reducing the immediate need for the Fed to take action when it meets later this month. Thus, there is no upward pressure on interest rates,
Frank Nothaft
At this time last year, our forecast called for interest rates for 30-year fixed-rate mortgages to exceed six percent by this time this year,
Frank Nothaft
Over the past five weeks, mortgage rates have remained within a narrow range of 0.1 percentage point around this week's averages.
Frank Nothaft
As we had predicted earlier in the month, interest rates for 30-year fixed-rate mortgages edged closer to last year's record low figures. For the year as a whole, we expect long-term rates may be even lower annually than they were in 2003.
Frank Nothaft
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