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.
continue fixed high housing key last level low mortgage past percent played rate rates role six witnessed
For the past six months, 30-year fixed rate mortgage rates have hovered between 6.75 percent and 7.25 percent. We continue to see a very low mortgage rate environment, and this has played a key role in the high level of housing construction we have witnessed over the last two quarters.
adding basically certainly favorable good home hovering level months mortgage past rate remained robust sales
The new home sales rate has remained robust for a good many months already. Certainly adding to the level of sales in the past six-to-12 months has been a very favorable level of mortgage rates, which are basically hovering around 7 percent.
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.
both dropping existing home housing july june levels sales somewhat starts took
Both existing home sales in June and housing starts in July took a breather, dropping to somewhat more sustainable levels of activity,
across built couple england families home last markets means pace past percent seen strong value values
Over the last couple of years, we've seen many markets with strong home value appreciation. They're up at a considerable pace in many markets across the country, particularly from New England all the way down to Washington, D.C., ... Home values are up in D.C., for example, by over 10 percent over the past year. That means families have built up home equity.
albeit compared few likely modestly mortgage next rates rise
Long-term mortgage rates will more than likely rise over the next few months, albeit modestly compared to shorter-term rates.
board change combined data economic elected factors federal future interest key mortgage negative painted picture pressures rates reserve slightly week
With productivity up and inflationary pressures muted, the Federal Reserve Board elected this week not to change a key short-term interest rate. Moreover, most other economic data releases, such as unemployment and manufacturing, painted a slightly negative picture for future economic growth. These factors combined to keep mortgage rates stable.
annual average below economic mortgage projection rates spring thanks
Today's annual average mortgage rates are below even that projection thanks to the spring 'soft-patch' in economic growth.
affordable coming continue expect housing low market mortgage percent present rate rates remaining strong
With the unemployment rate at a low of 4.3 percent and mortgage rates remaining at present affordable levels, we expect the housing market to continue to be strong into the coming months.
accounts bulk equity home typical
For the typical family, home equity accounts for the bulk of their wealth.
confidence consumer economists expect housing low mac market months mortgage rates remain strong
With mortgage rates low and consumer confidence high, Freddie Mac economists expect the housing market to remain strong in the months ahead.
almost basis beginning bond continue creeping daily expect inflation mortgage pushing rates remains rising since yields
Bond yields have been creeping up on an almost daily basis since the beginning of October, pushing mortgage rates up as they go, ... Inflation remains low, however, and we expect that to continue into 2004 and beyond. And as long as it does, we won't see mortgage rates rising very dramatically.
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.