OTHER NEWS - Nov. 16, 1991
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From Times Staff and Wire Reports
Mortgage Rates Fall: The average interest rate for 30-year fixed-rate mortgages dropped to 8.69% this week, the lowest level in nearly 15 years, the Federal Home Loan Mortgage Corp. said. The last time rates stood so low was in the winter of 1977, when they were 8.65%. The new low levels reflect moves by the Federal Reserve to lower interest rates to get the faltering U.S. economy and the housing market moving.
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