BANKING & FINANCE - May 27, 1994
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From Times Staff and Wire Reports
Mortgage Rates Ease: Thirty-year, fixed-rate mortgages averaged 8.53% this week, down from 8.56% last week, according to a national survey by the Federal Home Loan Mortgage Corp. The average hit a 25-year low of 6.74% last October. Lenders were asking an average initial rate of 5.48% on one-year, adjustable-rate mortgages, down from 5.58% last week. The rates do not include add-on fees known as points.
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