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

DATE: SATURDAY, June 3, 1995                   TAG: 9506060053
SECTION: BUSINES                    PAGE: A-6   EDITION: METRO 
SOURCE: MAG POFF STAFF WRITER
DATELINE:                                 LENGTH: Short

MORTGAGE RATES STILL DECLINING

There was "a pretty significant improvement" in the mortgage rate market Friday, according to Michael Hincker, manager of the Roanoke office of National City Mortgage Corp.

Hincker said mortgage rates fell because several reports issued Friday indicated that the economy "was not as heated up as people thought."

He said home mortgage rates fell about a quarter-point, with a point equal to 1 percent. A 30-year fixed mortgage, Hincker said, could be had Friday for a range of 7.375 to 7.5 percent with no points. He expected the rates to hold over the weekend.

Economists Mark Vitner and David Orr, in their weekly commentary issued Friday for First Union Corp., said mortgage rates have dropped by more than a full percentage point since January.

by CNB