Bob Walters Rates Quotations

Low long-term rates and a strong jobs market will continue to provide substantial support to the housing market.

News from the Fed that they may continue raising short-term rates surprised the market, causing short-term rates to exceed long-term rates.

We may see a flattening of the increase, but not much of a drop. The fundamentals remain strong: Employment is robust, and interest rates remain low.

Fixed mortgage rates stayed in a narrow, historically low, band in February.

The trend of homeowners to exit adjustable rate mortgages into the safety of fixed rates has intensified; those homeowners realize that when those ARMs adjust, they will adjust to rates higher than today's current 30 year fixed rate.

Affordability will keep prices in check, But for as long as rates stay near historic lows and employment remains strong, I think pricing will stay strong. We probably won't see the double-digit gains that we've seen.

The bulls basically hoped for a number showing housing is eroding, and they didn't get it. I'm not surprised. As long as jobs are strong -- as long as interest rates are low -- this isn't going to change.

Home sales will remain strong because all the fundamentals remain rock solid. Long-term rates are falling, inflation is falling and employment remains strong.

Although down somewhat, the purchase market continues to benefit from strong job formation and long-term mortgage rates that have remained within range of 40-year lows.