The bond market isn't exactly sure how fast or slow the economy will expand in the long term and thus bond yields have remained remarkable low. Hence, we expect mortgage rates to remain relatively low for the time being,
More Quotes from Frank Nothaft:
Our Primary Mortgage Market Survey results this week show mortgage rates slipping again, which will all but guarantee that the housing industry will continue at its robust pace and set yet again, another record for both new construction and overall home sales.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
This new millennium has proven to be very homeowner friendly. For instance, in the last four years we have set records in housing starts, housing sales, low mortgage rates, refinancing volumes and total mortgage originations,
Frank Nothaft
Concern that long-term interest rates are too low and comments from Fed officials this week helped push mortgage rates higher this week,
Frank Nothaft
There was no news this week that would drive mortgage rates in one direction or the other. Therefore, mortgage rates didn't have much reason to move a lot, staying below 7 percent for the second week running.
Frank Nothaft
The level of interest rates has slowed home sales in recent months, even though house prices still grew at a double-digit annualized pace during the final quarter of 2005, according to Freddie Mac's Conventional Mortgage Home Price Index (CMHPI). Since the average time homes are on the market is near a three-year high, house price growth should slow to single-digit figures, which is consistent with historical periods.
Frank Nothaft
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