New records have been set in originations, refinancing, and housing starts over the last few years, highlighting the industry as a strong, functional segment of the economy. The Mortgage Bankers Association of America's applications for home purchase figures for last week hit an all-time record high, bolstering our prediction that 2003 will be yet another banner year for housing.
More Quotes from Frank Nothaft:
The Producer Price Index (PPI) figures released today show an overall increase of 0.6 percent, but the core rose only a very modest 0.1 percent, indicating the actual rate of inflation is still very low, ... This good news points to a continuation of current affordable mortgage rates in the coming months.Frank Nothaft
We estimate that home equity extraction from the refinancing of prime first mortgage liens will result in an extraction of 243 billion in 2005. However, equity extraction in 2006 will likely fall sharply, by a little more than half to about 117 billion, as we expect lower refinance activity and slower house-price appreciation.
Frank Nothaft
Mortgage rates moved up for the second week in a row on concerns about a pick up in inflation showing up in raw materials,
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
There continues to be no sign of inflation on the horizon and, as a matter of fact, core inflation is at a generational low.
Frank Nothaft
Feeling more comfortable about the upcoming economic rebound, the financial markets relaxed a bit this week. With the market more settled this week, interest rates on fixed-rate mortgages eased this week to the lowest rate in five weeks.
Frank Nothaft
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