OTHER NEWS - Jan. 20, 1995
<i> Times Staff and Wire Reports</i>
Mortgage Rates Dip: Thirty-year fixed-rate mortgages averaged 9.05% this week, down from 9.19% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the lowest average since Nov. 3, when it was 9.05%. The average hit a 25-year low of 6.74% in October, 1993. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.82%, down from 6.83% last week. Fifteen-year mortgages, a popular option for people refinancing mortgages, averaged 8.70% this week, down from 8.85% a week earlier. The rates do not include add-on fees known as points.
