6.30% and 0.4 points - 30-year fixed-rate mortgage, average in Western U.S. for week ending September 28, 2006. Blue line is Freddie Mac forecast made 9/8/2006.
“This week’s economic releases, which showed a slight one-year decline in both new and existing house prices in August, fell short of market expectations and prompted market analysts to reassess how much the housing sector will contribute to economic growth in the coming year,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage rates declined even further this week to match those set six months ago.
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