OTHER NEWS - Dec. 20, 1991
From Times Staff and Wire Reports
VA Mortgage Loan Rates Fall: The Veterans Affairs Department is shaving half a percentage point off the maximum interest rate on the mortgages it guarantees, effective today. The new 8% rate is the lowest in 14 years, the department said, predicting that the decline will spur veterans to buy homes and refinance old, high-rate mortgages. The monthly payment on a typical VA loan of $84,500 will be $620.05, down from $741.56 just over a year ago.
