Frank Nothaft
Frank Nothaft
compared consumer credit employment growth helped higher highest interest january jump level mortgage push rates since strength unexpected
The strength in employment growth and an unexpected jump in consumer credit in January helped push mortgage rates a little higher this week. While long-term interest rates are at the highest level since May of 1998, they are still very affordable, particularly when compared to the 1970s and 1980s.
continued interest lowest mac mortgage rates remain seen since
Mortgage rates continued to set records. Interest rates remain the lowest in Freddie Mac history; indeed, they are the lowest we have seen since 1967.
caused certain combined cut fall federal further interest next rates reserve weakness
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.
bit economic employment february figures interest mortgage news pressure puts rates suggested week
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.
exceed forecast interest last percent rates six time
At this time last year, our forecast called for interest rates for 30-year fixed-rate mortgages to exceed six percent by this time this year,
caused consumer drift economy financial holiday including initial interest kept markets mortgage potential sales spending upwards
Consumer spending has kept the economy moving, and when initial holiday sales were better than expected, financial markets reacted with enthusiasm. It was this potential pick-up in the economy that caused interest rates, including mortgage rates, to drift upwards this week.
concern consumer continued cut declining drop economy federal helped housing interest mortgage overall rates recent since spite support weakness year
The Federal Reserve's recent cut in interest rates and a continued concern over weakness in the overall economy contributed to another drop in mortgage rates this week. In spite of the slowdown in other sectors and a lessening of consumer confidence, declining mortgage rates since the first of the year have helped to support housing activity.
bias diminished financial following iraqi large markets mortgage seem shifted
Following the onset of the Iraqi conflict, financial markets seem to have an upward bias for mortgage rates. However, that's not to say that uncertainty has diminished in any large way, but that it has shifted to a different set of unknowns.
bond dismal economic high highly impending iraq likely market mortgage news pressures rates remain resolution rise sent since stock sustained volatility week within
The escalating tensions within the U.N. over the impending resolution on Iraq and dismal economic news this week sent the stock market tumbling and with it went bond and mortgage rates. The high volatility is likely to remain for a while. But since there are no upward pressures at the moment, any sustained rise in rates in highly unlikely.
combined confidence consumer continue housing low market prosper rates strong summer
Low rates combined with the up-tick in consumer confidence are strong indications that the housing market will continue to prosper into the summer months,
causing currently due economic exactly focusing good market mortgage next pressure rates rebound recovery remains six strong volatility within
Currently the market is focusing on an anticipated economic recovery within the next six months. That focus put some upward pressure on mortgage rates this week, causing them to rise. There remains good volatility though, due to market speculation over exactly when and how strong the rebound will be.
add confident core data drop economic fact fed feeling financial inflation less markets mortgage raise rates recent shows time
Financial markets are feeling more confident that the Fed will not raise rates any time soon. Add to that the fact that recent economic data shows core inflation is less than the market expects, and we see mortgage rates drop once again.
compare directly growth housing matter percent quarter second year
As a matter of fact, housing directly contributed to real GDP growth of 19 percent in the first quarter of the year and 23 percent in the second quarter. To put this in perspective, this would compare to 17 percent of real GDP growth over all of 2004.
active alive confident continue expected great housing increase industry levels months mortgage november rates reached remain rose second seen since starts surprise three time
It was no great surprise that housing starts rose for the second time in three months since mortgage rates in November reached levels not seen since the mid-1960s. Since mortgage rates are not expected to increase significantly, we remain confident that the housing industry will continue to be alive and active well into 2003.