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Freddie Mac sees U.S. mortgage rates near bottom

© Thomson Reuters 2009 All rights reserved
Fri Mar 27, 2009 2:08pm EDT

WASHINGTON, March 27 (Reuters) - The head of mortgage finance company Freddie Mac (FRE.P) said on Friday that U.S. home loan rates are near their bottom and any further decreases will be small.

John Koskinen, the interim chief executive of Freddie Mac, spoke after leaving a meeting between U.S. President Barack Obama and the chiefs of financial services companies.

If mortgage rates go down further, it will be incremental, Koskinen said. The annual rate charged on the most common home loans has dropped significantly in recent months as officials have tried to loosen the reigns on credit. (Reporting by Karey Wutkowski; editing by Jeffrey Benkoe)