BANKING & FINANCE - April 4, 1992

Mortgage Rates Down Slightly: Thirty-year, fixed-rate mortgages averaged 8.96% this week, down slightly from the previous week, according to a national survey released by the Federal Home Loan Mortgage Corp. The drop, from 8.98% the previous week, marked the second consecutive small decline since rates hit a high this year of 9.03% during the week ended March 20. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.22%, up slightly from 6.19% the previous week. The rates do not include add-on fees known as points.