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US 30-yr fixed mortgage rate slumps after GSE deal

Mon Sep 8, 2008 12:57pm EDT

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NEW YORK, Sept 8 (Reuters) - Interest rates on 30-year fixed-rate mortgages have plunged in the aftermath of the U.S. government's rescue effort for mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac FRE.N..

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The 30-year fixed-rate mortgage has fallen to near 6.00 percent on Monday versus 6.50 percent on Friday, according to Greg McBride, senior financial analyst at Bankrate, Inc, in North Palm Beach, Florida. (Reporting by Julie Haviv; Editing by James Dalgleish)

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