BANKING & FINANCE - Dec. 5, 1994
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From Times Staff and Wire Reports
Mortgage Rates Edge Down: Thirty-year fixed-rate mortgages averaged 9.23% this week, down from 9.25% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. The average 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 6.47%, up from 6.35% last week.
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