Over the last couple of years, we've seen many markets with strong home value appreciation. They're up at a considerable pace in many markets across the country, particularly from New England all the way down to Washington, D. C., ... Home values are up in D. C., for example, by over 10 percent over the past year. That means families have built up home equity.
More Quotes from Frank Nothaft:
Recently released employment figures point solidly towards a slowdown in economic growth. That, in turn, alleviated upward pressure on interest rates, allowing mortgage rates to slip a little more.Frank Nothaft
For the typical family, home equity accounts for the bulk of their wealth.
Frank Nothaft
A tepid national economy has anchored mortgages rates to current low levels so far this year, ... However, according to the Federal Reserve's 'Beige book,' the housing industry is the only bright spot in the economy right now. That is primarily due to low mortgage rates.
Frank Nothaft
The political and economic uncertainty of war in Iraq is wearing on the confidence of consumers and restraining business expansion. And that, in turn, translates into a weaker economy which places downward pressure on interest and mortgage rates.
Frank Nothaft
Housing start figures in January came in at the highest level in over three decades, due in part to the combination of low rates and a warmer climate across the country.
Frank Nothaft
We expect that near-term growth will now be a bit weaker than had been anticipated, due in very large part to the disruption in economic activity brought on by Katrina last week.
Frank Nothaft
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