It was no great surprise that housing starts rose for the second time in three months since mortgage rates in November reached levels not seen since the mid-1960s. Since mortgage rates are not expected to increase significantly, we remain confident that the housing industry will continue to be alive and active well into 2003.
More Quotes from Frank Nothaft:
Treasury rates continued to drop this week to 45-year lows in anticipation that the Fed may cut rates given the continuous weakness in the economy and the absence of any inflationary pressures.Frank Nothaft
The most recent economic indicators ... showed that inflation is, indeed, being held in check. That news allowed long-term mortgage rates to drift a little lower.
Frank Nothaft
For the typical family, home equity accounts for the bulk of their wealth.
Frank Nothaft
Mortgage rates have been under 7 percent for the past eight weeks. During that time, mortgage applications for home purchases have continued to reach historically high levels, keeping home sales moving at a vibrant pace.
Frank Nothaft
It has continued to creep up over time in reaction to the Fed's moves, ... The difference between the 30-year FRM and the 1-year ARM is only about 1-14 percent, the narrowest it has been since March of 1999, making the 30-year FRM more attractive.
Frank Nothaft
Low mortgage rates and strong house appreciation boosted new and existing home sales as well as refinance activity (in 2001), leading to what was surely a record-breaking year for housing, ... Coming into the new year, there are some signs that the recession may have already run its course but no indications that inflation looms on the horizon. Thus mortgage rates remained almost unchanged this week.
Frank Nothaft
Readers Who Like This Quotation Also Like:
I was mad at Screen Gems, but I'm not mad at them anymore.Davy Jones
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
Timothy Geithner
It was a very profound experience, getting in touch with that part of us, in all of us human beings, that is committed beyond yourself to the point of giving everything you have, including your life, for other people, for your fellow man.
Raul Julia