BANKING & FINANCE - Dec. 23, 1994
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From Times Staff and Wire Reports
Mortgage Rates Dip: Interest on 30-year fixed-rate mortgages averaged 9.18% this week, down from 9.25% last week, according to a national survey by the Federal Home Loan Mortgage Corp. The average was the lowest since Dec. 8, when it was 9.15%. 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 6.90%, up from 6.75% last week.
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