Gross domestic product numbers surprised everyone today, posting a much larger-than-expected increase and confirming the notion that the economy has finally turned the corner,
More Quotes from Frank Nothaft:
Renewed concern over the threat of inflation pushed up long-term mortgage rates, while the most recent Fed statement caused short-term rates to float upwards,Frank Nothaft
The political and economic uncertainty of war in Iraq is wearing on the confidence of consumers and restraining business expansion. And that, in turn, translates into a weaker economy which places downward pressure on interest and mortgage rates.
Frank Nothaft
Mortgage rates drifted upward this week following the release of the Consumer and Producer Price Indexes for March, which came in at the upper end of market expectations for inflation.
Frank Nothaft
Mortgage rates will surely fluctuate in the weeks and months ahead, but the trend now is for higher rates over the long run.
Frank Nothaft
Going forward, homeowners wanting to use some of the equity in their homes for home improvement or other purposes will make up a larger portion of the refinance business.
Frank Nothaft
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