OTHER NEWS - Jan. 9, 1993

Mortgage Rates Fall: Thirty-year fixed-rate mortgages fell to 8.07% this week, down from 8.14% a week earlier and the lowest average since October, the Federal Home Loan Mortgage Corp. said. It was the fourth decrease in five weeks and the lowest rate since the week ended Oct. 16. Rates hit a 19-year low of 7.84% in early September and then climbed to 8.34% in late November before heading down again. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.28%, down from 5.36% last week and the lowest in eight weeks. The rates do not include add-on fees known as points.