Yesterday, March 1st, Freddie Mac released the results of Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage averaged 6.18 percent with an average 0.4 point for the week ending March 1, 2007.  Last week the average was 6.22 percent and last year it averaged 6.24 percent.  According to Frank Nothaft, Freddie Mac vice president and chief economist, "Mortgage rates drifted lower this week largely on the basis of new economic information suggestion a slower economy and lower inflation."

Source: Freddie Mac