OTHER NEWS - Sept. 2, 1991
From Times Staff and Wire Reports
Home Mortgage Rates Hit Four-Year Low: Interest rates on 30-year, fixed-rate mortgages averaged 9.15% last week, down from 9.17% the week before, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate was the lowest since March 27, 1987, when it was 9.07%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.96%, down from 7.03%. The rates do not include add-on fees known as points.
