BANKING & FINANCE - Jan. 13, 1995

30-Year, Fixed Mortgage Rates Fall: The rates averaged 9.19% this week, down from 9.22% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. The average was the lowest since Dec. 29, when it was 9.18%. It hit a 25-year low of 6.74% in October, 1993. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 6.87%, up from 6.83% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 8.85% this week, down from 8.87% a week earlier. The rates do not include add-on fees known as points.