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.
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Both existing home sales in June and housing starts in July took a breather, dropping to somewhat more sustainable levels of activity,
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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.
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.
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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.
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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.
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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.
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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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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.
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.
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.
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,
discern economy fairly financial growing growth markets mortgage quickly rates remained stable tried week
Mortgage rates remained fairly stable this week as the financial markets tried to discern just how quickly the economy is growing and how sustainable that growth will be.
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Mortgage rates have been under 7 percent for the past eight weeks,