BANKING & FINANCE - Oct. 15, 1993
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Mortgage Rates Fall: Interest rates on 30-year, fixed-rate mortgages fell to 6.81% this week, the 10th decline in 11 weeks and a new 25-year low, the Federal Home Loan Mortgage Corp. said. This week’s average was down from 6.87% a week ago and just under the previous 25-year low of 6.82% during the week ended Sept. 9. Fifteen-year mortgages, an increasingly popular option for those refinancing mortgages, averaged 6.36% this week, down from 6.39% a week earlier. The rates do not include add-on fees known as points.
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