The Real Deal Miami

Mortgage rates decline after takeover of Fannie, Freddie

September 11, 2008 03:58PM

Rates on 30-year mortgages have been falling since the government took
control of Fannie Mae and Freddie Mac. Rates fell to 5.93 percent, a
0.7 point discount, this week, according to the Primary Mortgage Market
Surey from Freddie Mac. Fifteen-year fixed rate mortgages fell to 5.54
percent from 5.9 percent this week, and five-year adjustable rate
mortgages dropped from to 5.87 percent from 5.97 percent.