frank nothaft

Last week, housing market news was thin on the ground. It was good to see that fixed-rate mortgage rates dropped again, according to Freddie Mac's weekly survey of conforming mortgages, which came out Thursday. The report was accompanied by encouraging words from Freddie Mac's chief economist Frank Nothaft, who said: "The Federal Reserve recently reported positive news in both the housing market and the overall state of the economy in its January 13 regional economic report....Economic activity improved in 10 of its 12 districts. Home sales...increased due in part to the home-buyer tax credit and house prices appeared to have changed little since its last report." The bottom in home pricing appears to have formed in many areas of the country.