Frank Nothaft Quotes

The general feeling in the market is that the economy may have bottomed out and recovery is in sight... It is just that sort of atmosphere that kept mortgage rates from falling last week. But if the economy begins to overheat and inflation becomes a threat once again, mortgage rates will almost certainly begin to rise in response. Currently, however, inflation is well contained and there is ample room for the economy to recover. - Frank Nothaft

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However, many other indicators remain strong and this we think will lead the Federal Open Market Committee to raise short-term rates another quarter point to a target of 2-1/4 percent, putting upward pressure on frequently adjusting ARMs. - Frank Nothaft

All eyes will be on the Fed for the next few months at least. How aggressive or how measured the coming rate hikes are will determine the future direction of both short- and long-term mortgage rates. - Frank Nothaft