Frank Nothaft Quotes

The most recent economic indicators ... showed that inflation is, indeed, being held in check. That news allowed long-term mortgage rates to drift a little lower.

- Frank Nothaft

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Economic | Indicators | Showed | Inflation | Held |

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Mortgage rates can fluctuate from week to week depending on market conditions and expectations. That is probably what happened this week. Nonetheless, long-term mortgage rates are at about the same low level they were at this time last year. So it isn't surprising that the housing industry continues to thrive. - Frank Nothaft

On net, the latest economic news had little effect on mortgage rates this week. Our forecast calls for rates on 30-year fixed-rate mortgages to increase about one-quarter of a percentage point by the end of the year. - Frank Nothaft

Meanwhile, fueled by low, affordable mortgage rates, housing starts came in at a nearly 18-year high in October, with an upward revision in September. Our latest economic forecast calls for low inflation into the next year and as long as that holds true, there will be little upward pressure that might force interest rates significantly higher. - Frank Nothaft