Bailey said appraisers and credit services bog down with the volume. Donald Bradley, a senior economist at Freddie Mac, said he expects mortgage rates to remain around the 7 percent level. Marv Gerard, executive vice president of the Abilene Board of Realtors, said favorable rates contributed to a banner year in 1997. The economy is hanging in there good. People's motivation is good.
People are confident, and the rates are good.
Gerard noted that the lowest portion of the industry's cyclical curve was higher in 1997 than in 1996 - another good sign, he said. E.W. Scripps Publications , All Rights Reserved. Site users are subject to our User Agreement . We also have a Privacy Policy .