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VA Cuts Mortgage Interest Rate

L.A. Times Archives
Associated Press

WASHINGTON — The Veterans Administration today lowered its maximum home loan interest rate a full percentage point to 9 1/2%. The change, effective Monday, puts the rate on VA-guaranteed fixed-rate mortgages at its lowest level since April 22, 1979. It is the sixth time in 10 months that the rate on new VA loans has been decreased.

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