Frank Nothaft Quotes
Consumer confidence slipped in February to the lowest reading in three months, but manufacturing activity appears to have strengthened last month. On net, the latest economic news had little effect on mortgage rates this week. Over the past five weeks, mortgage rates have remained within a narrow range of 0.1 percentage points around this week's averages. 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. 
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Consumer | Confidence | Slipped | February | Lowest |
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Although mortgage rates have risen for the second week running, the long-term figures are still only about 50 basis points higher than they were at the start of the year... This may have slowed the refinance market a little, but refinancing continues to make up about half of all applications for mortgages, according to the Mortgage Bankers Association.
- Frank Nothaft
