BANKING & FINANCE - Nov. 26, 1992
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From Times Staff and Wire Reports
Mortgage Rates Fall: Thirty-year, fixed-rate mortgages averaged 8.29% this week, down from 8.32% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate hit a 19-year low of 7.84% in mid-September and rose steadily through October. It has been roughly stable since then. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.34%, up from 5.32% last week. The rates do not include add-on fees known as points.
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