40 Quotes by Frank Nothaft

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.

The Producer Price Index for April, released today, showed a considerably larger decline than had been expected, reaffirming market concerns about the state of the economy. However, the Consumer Price Index for April that will come out tomorrow will give us a much more comprehensive picture of what is actually happening.

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,

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.

Mortgage rates have been under 7 percent for the past eight weeks,

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.

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.

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.

For the typical family, home equity accounts for the bulk of their wealth.