BANKING & FINANCE - Dec. 15, 1995

30-Year, Fixed Mortgage Rate Dips: Thirty-year, fixed-rate mortgages averaged 7.15% this week, down from 7.18% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the lowest since Feb. 17, 1994, when rates averaged 7.11%. As recently as Dec. 15, 1994, rates were at 9.25% before they started falling. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.55%, up from 5.53% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 6.71% this week, down from 6.74% a week earlier. The rates do not include add-on fees known as points.