Frank Nothaft
Frank Nothaft
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.
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With mortgage rates low and consumer confidence high, Freddie Mac economists expect the housing market to remain strong in the months ahead.
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As the economy continues to show signs that the recession is ending, the housing market continues to expand thanks, in large part, to current low mortgage rates. And as long as inflation is not an issue in the economy, lending rates should remain around 7 percent.
confidence consumer fell growth hit keeping less lower means mortgage rates report result slower spending week year
Mortgage rates fell this week as a result of the Consumer Confidence report , which hit a 4-1/2 year low. Lower confidence translates into slower consumer spending. Less spending means less growth, and less growth means less inflationary pressure, keeping mortgage rates affordable.
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.
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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,
breaking current demand economy housing keeping low mortgage overall rates record
Current record breaking low mortgage rates are keeping demand for housing strong, even as the overall economy stumbles sluggishly into the first part of the new year.
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As a matter of fact, it looks as though 1998 will register the lowest annual mortgage rates in 30 years.
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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.
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.
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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.
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Today's annual average mortgage rates are below even that projection thanks to the spring 'soft-patch' in economic growth.
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For the typical family, home equity accounts for the bulk of their wealth.