Our January forecast calls for a gradual rise in long-term rates throughout 2006, ending the year at about 6.5 percent for the 30-year fixed-rate mortgage, while relative rate differences with adjustable-rate mortgages will narrow.
More Quotes from Frank Nothaft:
Long-term interest rates were little changed headed into Fed Chairman Greenspan's testimonies to Congress this week,Frank Nothaft
The current uncertainty of corporate governance caused huge transfers of money into more stable and safer assets. Large money managers shifted their investments into bonds, thereby lowering their yields and allowing mortgage rates to follow.
Frank Nothaft
Following the onset of the Iraqi conflict, financial markets seem to have an upward bias for mortgage rates. However, that's not to say that uncertainty has diminished in any large way, but that it has shifted to a different set of unknowns.
Frank Nothaft
Mortgage rates slipped this week on news that job creation in March came out much lower than had been expected,
Frank Nothaft
Continued reaction to last week's Federal Reserve Committee statements about the threat of deflation has triggered a rally in the bond market, driving long-term yields to the lowest level since 1958,
Frank Nothaft
With the conflict in Iraq seemingly under control, the financial markets have shifted focus back onto the economy. Freddie Mac's most recent economic forecast recognizes that the first half of the year may be slower than originally thought, but that the second half will begin to pick up.
Frank Nothaft
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