Interest rates for 30-year fixed-rate mortgages currently are below the monthly averages set in November and December of 2005.
More Quotes from Frank Nothaft:
Saving half a percentage point in interest accumulates over time.Frank Nothaft
The housing industry remains fundamentally fit as we move into the spring buying season.
Frank Nothaft
Anticipation that the Federal Reserve may well cut rates at its next meeting, combined with further weakness in certain sectors of the economy, caused interest rates to fall again.
Frank Nothaft
One reason why homeowners may be willing to increase the mortgage rate on their first-lien mortgage is because interest rates on most home-equity lines of credit have been pushed up again as the Fed increased short-term interest rates in January and March, which in turn pushed up the prime rate.
Frank Nothaft
Given that mortgage rates aren't expected to move to much in either direction any time soon, we fully expect the housing market will continue to thrive well into the foreseeable future.
Frank Nothaft
Long-term mortgage rates this week fell to levels equal to those experienced in April, reacting in large part to last Friday's news of less than stellar job growth in June, ... This is good news for those who are still house hunting, as lower rates mean more affordable housing.
Frank Nothaft
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