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.
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.
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.
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.
action august board chance consumer current drifted federal further interest labor later likely market meets raise rates reserve slight slowing until
There is a slight chance the Federal Reserve Board will raise rates when it meets later this month, but with the current labor market and slowing consumer spending, it is more likely that it will take no action until August at the earliest. As a result, short-term interest rates, such as the one-year adjustable-rate mortgage, drifted further down this week.
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.
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,
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.
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,
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.
continues current economy expand housing inflation issue large lending low market mortgage rates recession remain signs
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.
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.
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.