BANKING & FINANCE - Jan. 25, 1993
From Times Staff and Wire Reports
Mortgage Rates Decline Slightly: The Federal Home Loan Mortgage Corp. reported that interest rates on 30-year, fixed-rate mortgages fell for the third consecutive week, to 8.00%, the lowest level in more than three months. The average rate, down from 8.04% a week earlier, was the lowest since the week ended Oct. 2, when the average was 7.93%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.20%, down from 5.25% last week and the lowest since mid-November. The rates do not include add-on fees known as points.
