WASHINGTON — Rates on 30-year mortgages dropped sharply again this week, falling to the lowest level in seven months, as rates continue to decline following the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac.

Freddie Mac reported yesterday that its nationwide survey found 30-year, fixed-rate mortgages declined to 5.78 percent this week, down from 5.93 percent last week.

It was the fifth consecutive weekly decline and pushed the 30-year mortgage to the lowest level since it stood at 5.72 percent the week of Feb. 14. The decreases have accelerated over the past two weeks since the government announced on Sept. 7 that it was taking control of Fannie Mae and Freddie Mac because of huge losses the companies were experiencing due to soaring defaults on mortgage loans as home prices slump.

Private economists had predicted the government's move would result in lower mortgage rates for consumers because it removed a huge uncertainty about the future of the two firms, which own or guarantee half the nation's mortgages.