The phones are busy at local mortgage companies. The average rate for a mortgage loan dropped suddenly two weeks ago after the government stepped in to take over mortgage giants Fannie Mae and Freddie Mac, and for much of last week, buyers could get loans under 6 percent.

This entry was posted on Tuesday, September 23rd, 2008 at 8:48 am and is filed under Loans. You can follow any responses to this entry through the RSS 2.0 feed.