Meanwhile, home construction remains strong and home sales continue to break records easily. In fact, total home sales should end the year two percent higher than 2003's all time record level.
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
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
Current economic indicators reflect a lackluster economy, and I think it's safe to say that financial markets will continue to experience volatility, at least until there is some resolution to the current situation in Iraq. Mortgage rates overall continue to be amazingly affordable, and that keeps the housing industry humming. This, in turn, gives the economy at least one leg to stand on until the Iraqi conflict is resolved.
Frank Nothaft
Financial markets see inflation as being well managed by the Fed, and that allows long-term interest rates to remain low, with mortgage rates even falling a little more this week.
Frank Nothaft
This new millennium has proven to be very homeowner friendly. For instance, in the last four years we have set records in housing starts, housing sales, low mortgage rates, refinancing volumes and total mortgage originations,
Frank Nothaft
Slower economic growth this quarter and little or no inflation worries allowed rates to drift downward these last few weeks to the benefit of homebuyers,
Frank Nothaft
Readers Who Like This Quotation Also Like:
Based on Topics: Facts Quotes, Home Quotes, Sales QuotesI think we could have done a lot more great music, so I was disappointed that we didn't continue making records and touring, but it's hard to argue with 10 good years.
Jerry Harrison
When all is said and done, monotony may after all be the best condition for creation.
Margaret Sackville
After about a year or so, I was in L.A.; I'd decided to try to get a band together out there.
Stephen Stills