BANKING & FINANCE - July 29, 1991
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From Times Staff and Wire Reports
Mortgage Rates Dip: Fixed-rate mortgages averaged 9.50% this week, down from 9.54% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the lowest level for fixed-rate mortgages since they averaged 9.48% for the week ending June 7. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 7.21%, down from 7.23% last week. The rates do not include add-on fees known as points.
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