Over the past five weeks, mortgage rates have remained within a narrow range of 0.1 percentage point around this week's averages.
More Quotes from Frank Nothaft:
The recent rise in the Consumer Price Index spooked the financial market, pushing interest rates a little higher this week, ... The decline in housing starts, however, mitigated concern that the economy is growing to fast and led to confidence that the Fed's actions are having the desired results.Frank Nothaft
However, the resiliency of the housing sector continues to amaze, ... 2005 will be another banner year for the housing industry.
Frank Nothaft
Looking ahead into the spring home buying season, we don't expect mortgage rates to rise too much or too quickly in the near term. As a result, housing activity should stay on track for a strong 2005.
Frank Nothaft
As we had predicted earlier in the month, interest rates for 30-year fixed-rate mortgages edged closer to last year's record low figures. For the year as a whole, we expect long-term rates may be even lower annually than they were in 2003.
Frank Nothaft
News that wages grew faster than had been expected in October reinforced fears of inflation in the financial markets, and that bumped up interest rates again this week.
Frank Nothaft
The decline in mortgage rates was primarily due to a weak employment report for September, which suggested economic growth is still a bit subdued. As a result, we expect mortgage rates will continue to stay quite affordable over the next few months, benefiting future homebuyers,
Frank Nothaft
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