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Home loan rates fall after U.S. pledges to fund new loans

Home loan rates fall after U.S. pledge to fund new loans

Average 30-year fixed-rate home mortgage loans for creditworthy borrowers fell as low as 5.5 percent yesterday, from 6.4 percent a day earlier, thanks to the U.S. Treasury's pledge to finance up to $600 billion in loans via Fannie Mae and other wholesale lenders. Bloomberg said it was the biggest one-day drop in at least seven years.

http://www.bloomberg.com/apps/news?pid=20601087&sid=akf9_ZmmdeTY&refer=home