There was no news this week that would drive mortgage rates in one direction or the other. Therefore, mortgage rates didn't have much reason to move a lot, staying below 7 percent for the second week running. |
There were further signs this week that the economy may be finally taking a turn for the better, ... Evidence of this change in momentum can be seen in the Fed's remarks yesterday that it was taking a neutral bias in terms of future intervention. |
There were further signs this week that the economy may be finally taking a turn for the better. Evidence of this change in momentum can be seen in the Fed's remarks yesterday that it was taking a neutral bias in terms of future intervention. |
There's about $6 trillion in single-family mortgage debt outstanding, and total home value is about $13 trillion, which means there's about $7 trillion in home equity outstanding. Last year was a big year for liquefying home equity -- about $100 billion. That's a drop in the bucket compared to $7 trillion. |
There's no way we can sustain double-digit price appreciation year after year; it just can't happen. We're going to see a return back toward the normal pace. |
These numbers suggest that the Fed will remain restrained in its practice of raising short term rates, which may be an indication the Fed doesn't see inflation to be as great a threat as the markets previously had thought it would be. |
They (the Fed) will probably stay on course. |
they generally won't come down as much, because what the Fed controls is the overnight lending rate ... so the effect on a one-year rate will be less than the effect on an overnight rate. |
This is a good sign that housing activity, although slowing from record levels set in the past few years, will continue to remain healthy this year. |
This new millennium has proven to be very homeowner friendly. For instance, in the last four years we have set records in housing starts, housing sales, low mortgage rates, refinancing volumes and total mortgage originations, |
This past week's increase in mortgage rates reflects market anxieties over inflationary pressures, energy price increases and slipping consumer confidence, ... Taken together these developments suggest less personal spending during the later quarter of the year and additional upward pressure on mortgage rates. |
This should induce some slowing in housing market activity, but we expect the housing market in 2006 to be strong, nonetheless. |
This week's easing off in mortgage rates is rooted in the market's wait-and-see posture with regard to the Federal Reserve Board's upcoming actions on interest rates, |
This week's easing off in mortgage rates is rooted in the market's wait-and-see posture with regard to the Federal Reserve Board's upcoming actions on interest rates. |
Those yields need to rise just a bit to attract capital from abroad. |