WASHINGTON — Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates.

Freddie Mac reported yesterday that its nationwide survey found that 30-year, fixed-rate mortgages dipped to 5.93 percent this week, down from 6.35 percent last week.

The decline pushed the 30-year rate below 6 percent for the first time since late May and marked the lowest level they averaged 5.88 percent in mid-April.

The 30-year mortgage hit a high for this year at 6.63 percent on July 24 and had been above 6 percent since late May.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, fell to 5.54 percent, down from 5.90 percent last week.