AgentIndustry News

Real estate rates defy economic expansion

30-year fixed holds near 5.75%
Published on Nov 19, 2004

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by CareyBot

Mortgage rates are still holding against pretty good October economic data, and against the Fed's obvious intention to raise its interest rate at least another percentage point as quickly as it can.

October industrial production doubled its forecast increase, up .7 percent, as did industrial capacity in use, up to 77.7 percent. October CPI and PPI core rates were just under control, up .2 percent and .3 percent respectively, but the energy-distorted nominals soared .6 percent and 1.7 percent. There are limits to core comfort at the Fed.

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