30-Year Fixed Down on Fannie, Freddie Bailout
- By:
- Bill Rice | Mon, 09/08/2008
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The US government's rescue of the two mortgage giants, Fannie Mae and Freddie Mac have sent mortgage rates on their intended path downward. As the risk transfers to the US treasury, significant risk premiums are subtracted from the debt pricing of these institutions--sending the derivative mortgage rates downward.
This is expected to send more borrowers back into the mortgage market to scoop up fattening housing inventories.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
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