Seiders Sees 6.75% 30-yr Mortgage Rate

Washington, DC, December 21, 2005– David Seiders the chief economist of the National Association of Home Builders, said he expects the interest rate on the benchmark fixed-rate 30-year mortgage to be at 6.75 percent in late 2006.

He also said he sees the housing market slowing but remaining strong.

Mortgage finance company Freddie Mac said the 30-year fixed-rate mortgage averaged 6.30 percent last week, the most recent week for which statistics were available, compared with 5.68 percent a year ago.