Arizona Real Estate Notebook

6.37% and 0.5 points - 30-year fixed-rate mortgage, average in Western U.S. for week ending October 19, 2006. Blue line is Freddie Mac forecast made 10/10/2006.

“Mortgage rates didn’t move much either way this week as the markets wait for the next scheduled FOMC meeting,” said Frank Nothaft, Freddie Mac vice president and chief economist. “General consensus leans heavily toward the notion that the Fed will not raise rates at that meeting, taking upward pressure off mortgage rates this week.