Despite the recent jump in 30-year fixed mortgage rates - 45 basis points during the last half of February - housing finance activity has demonstrated strong growth over the last year. Indeed, the recent rate jumps have generally been viewed as a short term correction, and most analysts expect rates to continue their downward trend during the next several months.
Suggested citation: “Housing Finance,” Federal Reserve Bank of Cleveland, Economic Trends, no. 96-03, pp. 17, 03.01.1996.