Long-Term Mortgage Rates Stimulate Housing

Mortgage News from Quicken Loans

Further proof that the housing market is stabilizing came today as the U.S. Census Bureau and the Department of Housing and Urban Development announced that for the second consecutive month, the number of privately-owned housing starts grew.

According to the report, housing starts for the month of December came in 4.5 percent higher than in November. November housing starts were 6.7 percent higher than October's.

"Long-term rates have remained resiliently low and the economy has shown itself to be like 'the little engine that could' via consistent growth and rising employment numbers. If these factors remain in place during 2007, we can expect to see steady demand for housing," said Bob Walters, chief economist of Quicken Loans.

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Long-Term Mortgage Rates Stimulate Housing

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