30-Year Mortgage Rate, 6.51% and 0.6 Points

30-year fixed-rate mortgage, average in Western U.S. for week ending June 7, 2007. Blue line is Freddie Mac forecast made 5/8/2007.

“Mortgage rates climbed this week owing to market concerns of a tight labor force and wage growth. May’s unemployment rate remained at the second lowest level since May 2001 while average hourly earnings rose,” said Frank Nothaft, Freddie Mac vice president and chief economist.

June 7, 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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