Monday, September 8, 2008

Mortgage Rates Fall on Fannie, Freddie Rescue

Mortgage rates are down 35 basis points today on news of a Treasury-led bailout of mortgage giants Fannie and Freddie Mac.

In trading today, the national average on a conforming 30-year fixed mortgage dropped to about 6.20% from last week's 6.55%, according to BankRate.

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