Nation: 30-Year Rates Fall To Five-Month Low Of 5.93%

The federal takeover of Fannie Mae and Freddie Mac increased industry confidence in their future. Rates dropped sharply this past week, falling to the lowest level in five months as the government's takeover of Fannie and Freddie had the desired effect. The decline pushed the 30-year rate below 6 percent for the first time since late May. The 30-year rate hit a 2008 high of 6.63 percent on July 24 and had been above 6 percent since late May.