Interest Rates going lower!?!?!?

      Freddie Mac's Primary Mortgage Market Survey showed the
30-year fixed-rate mortgage (FRM) averaging 6.11 percent with an
average 0.5 point for the week ending December 7, 2006, down again
from the previous week when it averaged 6.14 percent. Last year at
this time, the 30-year FRM averaged 6.32 percent. This is the lowest
the 30-year FRM has been since the week ending January 19, 2006, when it averaged 6.10 percent.

       The 15-year FRM on Friday averaged 5.84 percent with an
average 0.5 point, also down from the prior week when it averaged
5.87 percent. A year ago, the 15-year FRM averaged 5.87 percent. This
is the lowest the 15-year FRM has been since the week ending February 9, 2006 when it averaged 5.83 percent.

       "Continued signs of slowing in the housing market and weakness
in the manufacturing sector helped keep mortgage rates down this
week," said Frank Nothaft, Freddie Mac vice president and chief
economist. "As a matter of fact, the 30-year FRM is very nearly the
lowest it has been this year. The only other time the 30-year FRM has
been lower was in January when it fell to 6.10 percent. Looking
forward in the housing market, we think that housing is about 2/3 of
the way through the correction, and should stabilize by mid-year
2007."

       [SOURCE: Freddie Mac]

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