BANKING & FINANCE - Jan. 30, 1993
From Times Staff and Wire Reports
Fixed Mortgage Rates Dip Below 8%: Thirty-year, fixed-rate mortgages averaged 7.86% this week, the lowest rate in 20 weeks, according to a national survey by the Federal Home Loan Mortgage Corp. The rate, down from 8% last week, was the lowest since mortgages averaged 7.84% during the week ended Sept. 11. It was the first time rates dipped below 8% since they averaged 7.93% on Oct. 2. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.06%, down from 5.20% last week.
