We are also hearing that the interest rates will drop slightly now that we have all bailed out the secondary mortgage market. However, I have no idea when it will happen. There are many other factors of course that affect the market and interest rates, so it is tough to predict. If we knew for sure, we could sit back and make a fortune on futures. Do call your most trusted mortgage provider and ask them to keep in touch with any changes in the mortgage rates.
The bail out of Fannie and Freddie has already has an effect on the stock market. That was pretty fast so maybe mortgage rates will fall sooner rather than later. Watch carefully.