Mortgage Rates Drop to Lowest Level Since April

A bit of good news for the Santa Rosa real estate market that will help both buyers and sellers. The government takeover of Fannie and Freddie has had the desired effect of lowing mortgage rates. The lower rates mean more people will qualify for home loans and be able to the home loan payments.

One thing for sure, this is a very exciting time in the real estate business.

clipped from news.yahoo.com Freddie Mac reported Thursday that its nationwide survey found that 30-year, fixed-rate mortgages dipped to 5.93 percent this week, down from 6.35 percent last week. "This is the most significant positive benefit of the government takeover of Fannie and Freddie," Zandi said. "I think it is important that rates have fallen below the key 6 percent benchmark and hopefully rates will move lower in coming weeks."