Mortgage rates fell last week in the wake of the government’s takeover of Fannie Mae and Freddie Mac. That was exactly what had been hoped for.
Freddie Mac’s nationwide survey of 30-year, fixed-rate mortgages fell to 5.93 percent last week, down from 6.35 a week earlier.
For a $200,000 loan, the drop translates to a $54 lower monthly payment of $1,190.
Source: Associated Press