Frank Nothaft
Frank Nothaft
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.
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.
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.
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.
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.
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.
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.
consumer deflation economy housing indicate leading pick price ready released reports starts stronger suggesting together week
The Consumer Price Index released this week showed no decline, suggesting that the possibility of deflation is still low. Housing starts were stronger than expected, as were the leading indicators released today. All of these reports together could indicate the economy is ready to pick up growth.
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.
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,
based cause currently higher highest housing january market occurred rates starts week
That said, January housing starts were the highest in over 20 years, and that is based on higher rates than we are currently experiencing, ... All in all, the little run-up in rates that occurred this week will not be enough to cause a significant slowdown in current housing market activity.
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.
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,