Housing continued to help fuel the economy this year, accounting for about 20 percent of real GDP growth in the first quarter alone. Further, since the end of March long-term bond yields have fallen by more than a half of a percentage point, allowing interest rates on fixed-rate mortgage to decline as well. Consequently, both new and existing home sales in April reached all-time record highs.
More Quotes from Frank Nothaft:
give the market better insight into whether the underlying core of inflation has picked up.Frank Nothaft
Mortgage interest rates were up this week on news that February employment figures suggested an economic upturn. That news, however, puts a bit of upward pressure on long-term mortgage rates.
Frank Nothaft
Mortgage rates continued to set records. Interest rates remain the lowest in Freddie Mac history indeed, they are the lowest we have seen since 1967.
Frank Nothaft
The threat of higher inflation, as we all know, invariably leads to higher mortgage rates.
Frank Nothaft
The vast majority of homeowners who have fixed-rate mortgages probably won't be affected at all.
Frank Nothaft
Mortgage rates are in a holding pattern right now as the country tries to smooth out the knots in the economy. Low rates are a real boost to an already thriving housing market, ... Over the last few months, the number of mortgage applications for home purchase has averaged near record levels...which suggests no immediate slowdown in housing anytime soon.
Frank Nothaft
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