BANKING
From Times Staff and Wire Reports
Mortgage Rates Lower: Fixed-rate mortgages averaged 9.14% last week, the lowest in more than four years, the Federal Home Loan Mortgage Corp. said. The rate, down from 9.15% the week before, was the lowest since March 27, 1987, when it averaged 9.07%. On one-year adjustable-rate mortgages, lenders were asking 6.93%, down from 6.96%.
