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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 2, 2007  |   Mortgage Rates Drop Again This Week
Freddie Mac reports a decline in the 30-year fixed rate mortgage to 6.18 percent this week, from 6.22 percent last week. Chief Economist Frank Nothaft attributes the drop to reports of weaker economic growth and lower inflation.

The 15-year fixed mortgage rate also fell during the week, to 5.92 percent from 5.97 percent. And, the five-year hybrid adjustable rate slipped to 5.93 percent from 5.96 percent. Meanwhile, the one-year ARM held steady at 5.49 percent.

Nothaft predicts that "the housing market is likely to continue on its rocky path during the first half of 2007."

Source: The Wall Street Journal (03/02/07)

© Copyright 2006 Information Inc.

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