Arizona Real Estate Notebook

30-year fixed-rate mortgage, average in Western U.S. for week ending January 11, 2007. Blue line is Freddie Mac forecast made 1/11/2007.

“Looking forward, we expect rates on 30-year fixed-rate mortgages to remain below 6.5 percent in the coming year and for adjustable-rate mortgage rates to be less attractive to borrowers in 2007 than they have been in recent years. We now expect the ARM share of home purchase mortgages in 2007 to fall below 20 percent for the first time since 2003.”