30-year fixed-rate mortgage, average in Western U.S. for week ending March 8, 2007. Blue line is Freddie Mac forecast made 3/8/2007.
“Looking ahead, as excess business inventories are worked off and the drag from residential investment diminishes, we expect real GDP growth to accelerate in the first half of 2007 to 2.6 percent and average 3 percent for the year. That considered, we do not foresee significant movements in mortgage rates, with rates on 30-year fixed-rate mortgages averaging between 6.3 and 6.4 percent for the remainder of the year.“
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