BANKING & FINANCE - May 14, 1993
From Times Staff and Wire Reports
30-Year Mortgage Rate Unchanged: Thirty-year, fixed-rate mortgages averaged 7.42% this week, unchanged from last week, according to a national survey by the Federal Home Loan Mortgage Corp. It is the lowest rate since mortgages averaged 7.38% during the week ended April 22. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 4.63%, down from 4.66% last week.
