The most likely pattern is for mortgage rates to gradually rise over time. It is likely that they'll hover at 6 percent or just a bit over.
More Quotes from Frank Nothaft:
Long-term bond yields dropped leading up to Federal Reserve Chairman Greenspan's testimony to Congress over speculation of what he may say about deflation and over the possibility of the Federal Reserve buying long-term Treasury bonds to fight it,Frank Nothaft
There was little activity during this holiday week to move mortgage rates one way or another,
Frank Nothaft
Mortgage rates have fallen enough over the last few months that families who refinanced in 2001 are now able to do so again, ... Given the current low rates and the robust level of housing construction it appears the housing industry will continue to flourish well into the summer.
Frank Nothaft
Mortgage rates continued to set records. Interest rates remain the lowest in Freddie Mac history indeed, they are the lowest we have seen since 1967.
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
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