BANKING & FINANCE - May 2, 1992
From Times Staff and Wire Reports
Fixed-Rate Mortgages Down Slightly: Thirty-year, fixed-rate mortgages averaged 8.84% this week, down from 8.85% last week, according to a national survey released Friday by the Federal Home Loan Mortgage Corp. It was the lowest rate since mortgages reached 8.76% in the week ended April 17. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 6.10%, down from 6.13% last week. The rates do not include add-on fees known as points.
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