6.20% and 0.7 Points

30-year fixed-rate mortgage, average in Western U.S. for week ending February 22, 2007. Blue line is Freddie Mac forecast made 2/8/2007.

“Mortgage rates eased a little more this week, as market participants were concerned over how much drag the slowing housing market may have on economic growth,” said Frank Nothaft, Freddie Mac vice president and chief economist. “For instance, last week’s release of housing starts for January showed the weakest reading since August 1997, due to the abundance of homes already on the market to purchase.

February 23, 2007 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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