Mortgage rates up because of trouble at Fannie, Freddie

07/23/2008 | New York Times (tiered subscription model), The

Mortgage rates approached a five-year high as regulators and the White House strive to rescue Fannie Mae and Freddie Mac. Trouble at the mortgage giants could compound problems in the already-struggling housing market. HSH Associates said the average interest rate on a 30-year fixed-rate home loan increased from 6.44% on Friday to 6.71% on Tuesday.

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