6.12% and 0.4 points - 30-year fixed-rate mortgage, average in Western U.S. for week ending November 30, 2006. Blue line is Freddie Mac forecast made 11/02/2006.
“Mortgage rates drifted lower this week, bringing long-term rates to levels below those of this time last year,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Mortgage applications for home purchase in November have remained healthy, due largely because of the drop in mortgage rates and a softening in home prices in some areas.”
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