OTHER NEWS - Jan. 13, 1992

30-Year Mortgage Rates Fall: Thirty-year, fixed-rate mortgages averaged 8.23% this week, the lowest rate in more than 18 years, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate fell from 8.24% last week to the lowest level since mortgages averaged 8.18% during the week ending July 27, 1973. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.79%, down from 5.94% last week and the lowest since Freddie Mac began tracking ARMs in 1984. The rates do not include add-on fees known as points.