BANKING & FINANCE - Dec. 4, 1993

Fixed-Rate Home Loans Dip: The average interest rate on 30-year, fixed-rate mortgages fell to 7.25% this week, the Federal Home Loan Mortgage Corp. said. This rate was down from a five-month high of 7.31% the previous week. The average hit a 25-year low of 6.74% in October but has been above 7% for the last five weeks. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 4.31%, up from 4.30% last week. Fifteen-year mortgages averaged 6.74% this week, down from 6.84% a week earlier. The rates do not include fees known as points.