There's no way we can sustain double-digit price appreciation year after year it just can't happen. We're going to see a return back toward the normal pace.
More Quotes from Frank Nothaft:
Although mortgage rates have risen in the last two weeks, they are still below last year's annual average of about 7 percent and well below 2000's average of 8 percent, ... The current rising rates will dull the edge of the refinancing market, but there remain homeowners who have put off refinancing for one reason or another who may now rush to their lender to take advantage of current 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
As mortgage rates drift upward, we expect to see some moderation in housing activity.
Frank Nothaft
Federal Reserve Board Chairman Alan Greenspan told Congress that he's optimistic that the economy will take off in the second half of this year. In response, bond yields rose dramatically, taking mortgage rates up with them.
Frank Nothaft
Our January forecast calls for a gradual rise in long-term rates throughout 2006, ending the year at about 6.5 percent for the 30-year fixed-rate mortgage, while relative rate differences with adjustable-rate mortgages will narrow.
Frank Nothaft
Stronger than expected gains in the manufacturing and service industries - coupled with higher labor costs - ignited inflation concerns, which led to the rise in mortgage rates this week.
Frank Nothaft
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