Mortgage rates have fallen enough over the last few months that families who refinanced in 2001 are now able to do so again, ... Given the current low rates and the robust level of housing construction it appears the housing industry will continue to flourish well into the summer.
More Quotes from 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
Additional economic indicators this week confirmed that June was a weak month for the nation as a whole. Consequently, the upward pressure on interest rates eased, allowing mortgage rates to return to earlier, lower levels.
Frank Nothaft
Plummeting consumer confidence in September led markets to believe that the lack of job growth is wearing on the economy,
Frank Nothaft
For the typical family, home equity accounts for the bulk of their wealth.
Frank Nothaft
News like that is good news for keeping long-term fixed-rate mortgage rates low since those are more sensitive to inflationary expectations.
Frank Nothaft
Indications of a stronger economy gave rise to an increase in mortgage rates this week. Consumer confidence and existing home sales unexpectedly rose. Much of this strength is attributed to a healthy labor market, which translates into greater consumer spending. This should support an active housing market over the next few months.
Frank Nothaft
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