Yes, you can set a default path for inserting hyperlinks in Excel 2007. Here's how:

1. Open Excel and click on the Office button in the top left corner.
2. Click on Excel Options at the bottom of the menu.
3. In the Excel Options window, click on the Save tab.
4. Under the Save workbooks section, you'll see a field labeled Default file location. This is where you can set the default path for all files you save in Excel.
5. Click on the Browse button next to the Default file location field and navigate to the folder you want to use as the default path for hyperlinks.
6. Click OK to close the Browse window, then click OK again to close the Excel Options window.

Now, whenever you insert a hyperlink in Excel, the default path you set in step 5 will be used instead of the current path. This can save you time and make it easier to keep your hyperlinks organized.