ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, February 9, 1991                   TAG: 9102090156
SECTION: BUSINESS                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                LENGTH: Short

FIXED-RATE MORTGAGE AVERAGES DECLINE

Fixed-rate mortgages averaged 9.36 percent this week, down from 9.56 percent last week, according to a national survey released Friday by the Federal Home Loan Mortgage Corp. The average was the lowest since April 3, 1987, when it was 9.27 percent.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 7.68 percent, down from 7.75 percent last week and the lowest since 7.66 percent during the week ending May 13, 1988. The rates do not include add-on fees known as points.

- Associated Press 


 by CNB