BANKING & FINANCE - June 5, 1993

Mortgage Rates Fall Slightly: The average interest rate for a 30-year fixed-rate mortgage dipped slightly to 7.47% in the current week from 7.50% in the previous week, the Federal Home Loan Mortgage Corp. said. A year ago, the 30-year fixed rate was 8.59%. In its weekly report, Freddie Mac said the average rate for a 15-year fixed mortgage fell to 6.97% from 6.99% in the prior week. Freddie Mac said lenders charged an average of 1.7% in fees and points on 30-year fixed-rate loans in the current week, down from 1.8% in the previous week. For 15-year fixed-rate loans, it said lenders charged 1.7%, down slightly from 1.8% last week.

From Times Staff and Wire Reports