Frank Nothaft Quotes

Presently, all eyes are focused on next week's meeting of the FOMC [Federal Open Market Committee]. What the Fed decides and what it says at that time will surely have an impact on the future direction of mortgage rates.

- Frank Nothaft

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Presently | Eyes | Focused | Meeting | Fomc |

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Following the onset of the Iraqi conflict, financial markets seem to have an upward bias for mortgage rates. However, that's not to say that uncertainty has diminished in any large way, but that it has shifted to a different set of unknowns. - Frank Nothaft

Employment figures released recently, along with the information garnered in the Beige Book, support the market's notion that the economy is beginning to slow, reducing the immediate need for the Fed to take action when it meets later this month. Thus, there is no upward pressure on interest rates. - Frank Nothaft

Consumer spending has kept the economy moving, and when initial holiday sales were better than expected, financial markets reacted with enthusiasm. It was this potential pick-up in the economy that caused interest rates, including mortgage rates, to drift upwards this week. - Frank Nothaft