OTHER NEWS - Oct. 5, 1991
From Times Staff and Wire Reports
Mortgage Rates Dip: Fixed-rate mortgages averaged 8.87% this week, the lowest in more than 14 years, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate, down from 8.92% last week, was the lowest since June 17, 1977, when it was 8.85%. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 6.74%, down from 6.83% last week and the lowest since Freddie Mac began tracking ARMs in 1984.
