BANKING & FINANCE - Oct. 2, 1993
From Times Staff and Wire Reports
Mortgage Rates Drop: Interest rates on 30-year, fixed-rate mortgages fell to 6.89% this week, the eighth decline in nine weeks, the Federal Home Loan Mortgage Corp. said. This week’s average was down from 6.95% the week before. Fifteen-year mortgages, an increasingly popular option for those refinancing mortgages, averaged 6.41% this week, down from 6.47% last week. The rates do not include add-on fees known as points.
