BANKING & FINANCE - March 28, 1992

Home Loan Rates Decline: Thirty-year fixed-rate mortgages declined this week for the first time in nearly two months, according to a national survey released by the Federal Home Loan Mortgage Corp. Rates averaged 8.98%, down from 9.03% last week. It was the first decline since early February. Last week’s rate was the first over 9% since Sept. 13, when they averaged 9.02%, and the highest since they averaged 9.14% during the week of Sept. 6. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.19%, down from 6.22% last week.