The most recent economic indicators ... showed that inflation is, indeed, being held in check. That news allowed long-term mortgage rates to drift a little lower.
More Quotes from Frank Nothaft:
Anticipation that the Federal Reserve may well cut rates at its next meeting, combined with further weakness in certain sectors of the economy, caused interest rates to fall again.Frank Nothaft
In his speech to the Bay Area Council Conference last Friday, Federal Reserve Chairman Alan Greenspan remarked that we were not out of the woods yet, leading the financial markets to suspect another rate cut may be in the offing. This brought about this week's drop in interest rates in anticipation of such an event.
Frank Nothaft
However, the rise in mortgage rates will be measured, not extreme, and that will help keep the housing industry stable and affordable in the coming months.
Frank Nothaft
There is no doubt that low mortgage rates have been the driver of this phenomenal housing market.
Frank Nothaft
Mortgage interest rates were up this week on news that February employment figures suggested an economic upturn. That news, however, puts a bit of upward pressure on long-term mortgage rates.
Frank Nothaft
Corporate accounting concerns caused fierce investor buying of U.S. Treasury bonds, thereby lowering their yields. Other long-term interest rates followed suit in bringing fixed-rate mortgage rates within a slim margin of their 30-year record low set last November.
Frank Nothaft
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