The good money is going to be made where the money is. A lot of the swapping-up has already happened.

If they sold their house today, they would still get more money than they paid for it. But they won't be able to buy as many goods and services as they could before.

Acceleration in U.S. growth and rising energy costs will likely translate into higher long-term [interest] rates.

Every once in a while the bond market does believe Greenspan.

The bond markets got a little ahead of themselves, causing yields to rise too quickly over the past few weeks. This week saw a bit of a correction and mortgage rates fell for the first time in eight weeks. Continued volatility in financial markets, however, will keep rates teetering up and down for some time to come.

The 30-year [fixed-rate mortgage] came in under 6 percent for the last 22 weeks of this year. As a matter of fact, mortgage rates in 2004 averaged around 5.84 percent, the second lowest annual rate ever recorded in the history of Freddie Mac's Primary Mortgage Market Survey.