Interest rates for long-term mortgages slipped lower this week due to some economic data releases that pointed towards more subdued inflation in the near term.
More Quotes from Frank Nothaft:
The Fed's actions on Tuesday to raise overnight lending rates also worked to push mortgage rates higher this week, ... Because the Fed's action impacts short-term rates more than long-term, the largest effect was on ARMS, which rose significantly after the Fed announced its raise.Frank Nothaft
Worry about disinflation should now be tempered somewhat, but fear of inflation is still unwarranted. And that should keep mortgage rates from rising too quickly or steeply anytime in the near future.
Frank Nothaft
Continued low mortgage rates open the housing market to a broader segment of the population and contribute to the on-going vitality in home sales. And, since mortgage rates are expected to remain low until the economy picks up more steam, the housing sector should stay active and healthy for some time to come.
Frank Nothaft
The average loan-to-value ratio after refinancing is still 70 percent.
Frank Nothaft
With mortgage rates low and consumer confidence high, Freddie Mac economists expect the housing market to remain strong in the months ahead.
Frank Nothaft
Responding to a weak labor market report that showed November job growth to be far less than had been anticipated, long-term yields -- and that includes mortgage rates -- reversed last week's hike and fell to the previous week's level.
Frank Nothaft
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