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Mortgage Rates Lowest in Almost 4 Years:...

From Times Staff and Wire Reports

Mortgage Rates Lowest in Almost 4 Years: Interest charges for 30-year flat-rate mortgages averaged 9.25% this week, down from 9.36% last week and the lowest in nearly four years, the Federal Home Loan Mortgage Corp. said. Charges for 30-year fixed-rate mortgages were at their lowest since falling to 9.07% for the week ending March 27, 1987. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.59%, down from 7.68% last week and the lowest since 7.56% for the week ending May 18, 1988.


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