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.
More Quotes from Frank Nothaft:
Earlier in the week, interest rates were a bit higher, as financial markets were a little anxious about what language the Federal Reserve (Fed) would use in its statement this month.Frank Nothaft
The Fed's actions on Tuesday to raise overnight lending rates also worked to push mortgage rates higher this week, ... Because the Fed's action impacts short-term rates more than long-term, the largest effect was on ARMS, which rose significantly after the Fed announced its raise.
Frank Nothaft
Speculation that the Fed will not raise interest rates any time soon should help restrain any upward pressure on mortgage rates.
Frank Nothaft
Low new home sales figures released yesterday support the idea that the Fed's actions to keep inflation under control are finally having the desired effect.
Frank Nothaft
Responding to a weak labor market report that showed November job growth to be far less than had been anticipated, long-term yields -- and that includes mortgage rates -- reversed last week's hike and fell to the previous week's level.
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
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