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

DATE: FRIDAY, October 21, 1994                   TAG: 9410220056
SECTION: BUSINESS                    PAGE: A11   EDITION: METRO 
SOURCE: 
DATELINE: WASHINGTON                                 LENGTH: Short

MORTGAGE RATES EDGE DOWN

Thirty-year, fixed-rate mortgages averaged 8.85 percent this week, down from 8.93 percent last week, according to a national survey released Thursday by the Federal Home Loan Mortgage Corp.

It was the lowest since Sept. 29, when the average was 8.82 percent. The average hit a 25-year low of 6.74 percent in October.

On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.77 percent, unchanged from last week.

Fifteen-year mortgages averaged 8.30 percent this week, down from 8.40 percent a week earlier.

- Associated Press

by CNB