Arizona Real Estate Notebook

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.

“Mortgage rates moved little in the past week, as the latest economic news gave no reason for change,” said Frank Nothaft, Freddie Mac vice president and chief economist. “The economy added 97,000 jobs in February, in line with consensus expectations, while the unemployment rate dipped to 4.5 percent. But the promising employment situation did not materialize at the cash registers, with retail sales only growing by 0.1 percent in February, falling short of the 0.3 percent gain that had been predicted.

“Over the course of next week, February’s inflation measures at the wholesale and retail levels will be published and could serve as the driving force behind further rate movement.”