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.
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This quote is just one of 9 total Frank Nothaft quotes in our collection. Frank Nothaft is known for saying '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.' as well as some of the following quotes.
Long-term mortgage rates will more than likely rise over the next few months, albeit modestly compared to shorter-term rates.
November's employment report was a letdown, and it brought mild disappointment to the financial markets, causing mortgage rates to recede. The lack of any job growth stalls the economic recovery and, in the long run, dampens the potential growth of the housing industry.
Anticipation of a 25-basis-point rate cut pushed mortgage rates downward in this week's survey, and we expect to see further downward drifts over the coming week or so as the market moves on the actual larger rate cut itself.
This quote is just one of 9 total Frank Nothaft quotes in our collection. Frank Nothaft is known for saying '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.' as well as some of the following quotes.