News In Brief

Savings league sees drop ahead in mortgage interest

The US League of Savings Institutions said Monday that mortgage interest rates may fall in the months ahead. An Oct. 5 survey of 1,000 savings institutions showed a nationwide average interest rate for adjustable-rate mortgages of 12.02 percent, down from 12.42 a month earlier. Fixed-rate mortgage rates averaged 14.14 percent, compared with 14.44 percent in early September.

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