In spite of the sluggishness in the economy, nearly 25 percent of all mortgages were refinanced in 2002, saving those homeowners an average $1,200 per year to spend or save as they see fit. And with interest rates as low as they currently are, refinancing will continue to be a viable option for some. |
In the first quarter of 2006, it appears that economic growth picked up relative to the last three months of 2005. There is concern that the continued high level of energy cost may lead to inflation in other sectors of the economy. And fear of inflation leads to higher mortgage rates, like the ones we see this week. |
Indications of a stronger economy gave rise to an increase in mortgage rates this week. |
Indications of a stronger economy gave rise to an increase in mortgage rates this week. Consumer confidence and existing home sales unexpectedly rose. Much of this strength is attributed to a healthy labor market, which translates into greater consumer spending. This should support an active housing market over the next few months. |
Interest rates for 30-year fixed-rate mortgages currently are below the monthly averages set in November and December of 2005. |
Interest rates for long-term mortgages slipped lower this week due to some economic data releases that pointed towards more subdued inflation in the near term. |
Interest rates in general have been oscillating with every piece of economic news released lately, |
It is remarkable how mortgage rates have remained so low for so long, |
It was no great surprise that housing starts rose for the second time in three months since mortgage rates in November reached levels not seen since the mid-1960s. Since mortgage rates are not expected to increase significantly, we remain confident that the housing industry will continue to be alive and active well into 2003. |
It would be different if we had a spike in mortgage rates. |
Just when we were sure mortgage rates couldn't possibly drop any lower, we were surprised yet again, ... Current issues such as the possibility of military actions abroad, heightened terrorism alerts, and an unexpected drop in consumer confidence contributed to the decline in mortgage rates this week. |
Just when we were sure mortgage rates couldn't possibly drop any lower, we were surprised yet again. Current issues such as the possibility of military actions abroad, heightened terrorism alerts, and an unexpected drop in consumer confidence contributed to the decline in mortgage rates this week. |
Lack of uncertainty around the Iraq conflict caused bond market yields to reverse their downward spiral of recent weeks and mortgage rates followed in tandem. But there are other uncertainties about the length of the conflict and its impact on the economy that will influence mortgage rates in the weeks to come, so this rise in rates may be only temporary. |
Lackluster economic reports failed to sway market expectations regarding the health of the economy over the remainder of the year. Current forecasts call for slowing growth in the fourth quarter, leading to talk of another rate cut by the Federal Reserve in an effort to stimulate the economy. As a result, mortgage rates were little changed. |
Las Vegas generally runs above the national average in investor and second-home purchase activity. It's beginning to raise flags. |