Unbelievable
Blame It On Bernanke
Realty Times (06/09/06) ; Evans, Blanche
The National Association of Realtors has asked the Federal Reserve to stop hiking the short-term interest rate for fear another increase will derail the housing market. However, Freddie Mac economist Frank Nothaft is not worried, noting that the central bank is reviewing incoming economic data and will make its decision accordingly. He adds that long-term mortgage rates declined this week due to "a cautiously optimistic outlook in the market that core inflation remains contained." Though it predicts a drop in both existing- and new-home sales this year, NAR acknowledges that the 2006 figures will likely be the third strongest ever reported.
Realty Times (06/09/06) ; Evans, Blanche
The National Association of Realtors has asked the Federal Reserve to stop hiking the short-term interest rate for fear another increase will derail the housing market. However, Freddie Mac economist Frank Nothaft is not worried, noting that the central bank is reviewing incoming economic data and will make its decision accordingly. He adds that long-term mortgage rates declined this week due to "a cautiously optimistic outlook in the market that core inflation remains contained." Though it predicts a drop in both existing- and new-home sales this year, NAR acknowledges that the 2006 figures will likely be the third strongest ever reported.
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