BANKING & FINANCE - Aug. 1, 1992
From Times Staff and Wire Reports
Mortgage Rates Lower: Thirty-year, fixed-rate mortgages averaged 8.05% this week, down from 8.08% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the fifth consecutive decline and the lowest rate since July, 1973. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.37%, down from 5.45% last week and the lowest since the corporation began tracking ARMs in 1984. The rates do not include add-on fees known as points.
