Frank Nothaft Quotes on Running (5 Quotes)

The consumer price index figures released this morning showed that the run up in oil prices has not been inflationary at the consumer level, much to the relief of mortgage lenders. And price stability in products other than oil have allowed for more money to go toward home buying and home projects.

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.

Although mortgage rates have risen for the second week running, the long-term figures are still only about 50 basis points higher than they were at the start of the year. This may have slowed the refinance market a little, but refinancing continues to make up about half of all applications for mortgages, according to the Mortgage Bankers Association.

November's employment report was a letdown, and it brought mild disappointment to the financial markets, causing mortgage rates to recede. The lack of any job growth stalls the economic recovery and, in the long run, dampens the potential growth of the ho

Mortgage rates will surely fluctuate in the weeks and months ahead, but the trend now is for higher rates over the long run.