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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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