OTHER NEWS - Aug. 5, 1991
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From Times Staff and Wire Reports
Mortgage Rates Decline: Fixed-rate mortgages averaged 9.44% last week, down from 9.50% the week before, according to the Federal Home Loan Mortgage Corp. It was the lowest since rates averaged 9.40% during the week ending March 1. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.22% last week, up from 7.21% the week before. The rates do not include add-on fees known as points.
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