Of late, there has been no compelling economic reason to believe mortgage rates would climb out of their recent range.
More Quotes from Frank Nothaft:
The Fed rate cut and Greenspan's recent remarks that the economy has hit a 'soft spot' had a huge impact on financial markets, ... Combined with the anticipation that the U. S. could soon be at war with Iraq, market sentiment turned toward the negative, driving mortgage rates to new lows again.Frank Nothaft
Financial markets are beginning to think that the Fed (Federal Reserve) will hike rates three more times this year, instead of two, putting upward pressure on mortgage rates.
Frank Nothaft
However, the resiliency of the housing sector continues to amaze, ... 2005 will be another banner year for the housing industry.
Frank Nothaft
Saving half a percentage point in interest accumulates over time.
Frank Nothaft
Not only did the market get good news about September employment last week, but it was further bolstered by the upward revision of jobs in August, ... This inspired a little optimism in the market that we may have bottomed out as far as job losses are concerned.
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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