What will happen in Las Vegas It's hard to say. The entertainment industry has been very strong and you've got large immigration and employment growth, well above the national average. So you have an increase in house prices, but it's related to the influx of new residents and job growth. But certainly that's a market that you should use some caution in the coming years.
More Quotes from Frank Nothaft:
In spite of the sluggishness in the economy, nearly 25 percent of all mortgages were refinanced in 2002, saving those homeowners an average 1,200 per year to spend or save as they see fit, ... And with interest rates as low as they currently are, refinancing will continue to be a viable option for some.Frank Nothaft
The decline in mortgage rates was primarily due to a weak employment report for September, which suggested economic growth is still a bit subdued. As a result, we expect mortgage rates will continue to stay quite affordable over the next few months, benefiting future homebuyers,
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
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 Producer Price Index (PPI) figures released today show an overall increase of 0.6 percent, but the core rose only a very modest 0.1 percent, indicating the actual rate of inflation is still very low, ... This good news points to a continuation of current affordable mortgage rates in the coming months.
Frank Nothaft
Housing start figures in January came in at the highest level in over three decades, due in part to the combination of low rates and a warmer climate across the country.
Frank Nothaft
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