Amy Crews Cutts Quotes

The onset of 2005 bodes well for the housing industry. Long-term mortgage rates are currently below six percent.

- Amy Crews Cutts

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Onset | 2005 | Bodes | Housing | Industry |

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The 30-year [fixed-rate mortgage] came in under 6 percent for the last 22 weeks of this year. As a matter of fact, mortgage rates in 2004 averaged around 5.84 percent, the second lowest annual rate ever recorded in the history of Freddie Mac's Primary Mortgage Market Survey. - Amy Crews Cutts

Shrugging off statements by the Fed last week, mortgage rates remained relatively more stable than bond market yields. Without a key indicator that would move it one way or another, the financial market is in something of a state of limbo. - Amy Crews Cutts

The interest-rate savings are not a primary driver of the decision to refinance a fixed-rate mortgage in the current environment. Now, the dominant refinance borrower is looking at the best way to consolidate debt or finance a big project such as a home improvement. And we also have borrowers who took out adjustable-rate mortgages in recent years that are scheduled to have their payment reset this year that may be looking at the option to refinance into a fixed-rate product or into another adjustable-rate mortgage. - Amy Crews Cutts