BANKING & FINANCE - Feb. 10, 1992
From Times Staff and Wire Reports
Mortgage Rates Dip: The average interest rate for new 30-year, fixed-rate mortgages fell to 8.67% this week, the first decline in four weeks, the Federal Home Loan Mortgage Corp. said. The rate was down from 8.68% last week, and the first drop since falling to 8.23% from 8.24% in the week ending Jan. 10. That had been the lowest mortgage cost in 18 years. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.87%, down from 5.93% last week. The rates do not include add-on fees known as points.
