Frank Nothaft Quotes
With mortgage rates continuing to slip, a new wave of refinancing has appeared. According to the Mortgage Bankers Association of America, applications for refinance jumped 15 percent last week, near the record high set in March. And according to Freddie Mac's quarterly refinance review, the average age of a refinanced loan fell to 1.9 years in the first quarter of this year. 
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Mortgage | Rates | Continuing | Slip | Wave |
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Mortgage rates will surely fluctuate in the weeks and months ahead, but the trend now is for higher rates over the long run.
- Frank Nothaft
Taking into consideration the fact that mortgage rates have fallen from the earlier peak at the end of March, we have lowered our forecast for long-term rates. We now expect that the 30-year fixed-rate mortgage rates will likely end up somewhere between 5.9 percent and 6.2 percent by the end of this year.
- Frank Nothaft
Greenspan led the markets to believe that the Fed's actions would be on hold until there was more than sufficient growth in the economy to warrant a change in monetary policy... In other words, there is still enough slack in the economy to leave rates at their current accommodative level for some months to come.
- Frank Nothaft