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| **Secondary MarketReport** | **May 1998**
TABLE 5 AverageInterestRates on Conventional First Mortgages **New Home Loans              Existing Home Loans                ----------------------        ----------------------                May'98  Apr'98  May'97        May'98  Apr'98  May'97                ----------------------        ----------------------Northeast        7.03%   6.96%   8.27%         7.03%   6.96%   8.27%Middle Atlantic  7.30%   7.23%   8.11%         7.30%   7.23%   8.11%Southeast        7.19%   7.19%   8.15%         7.19%   7.19%   8.15%North Central    7.16%   7.17%   8.29%         7.23%   7.27%   8.30%Southwest        7.40%   7.36%   8.24%         7.38%   7.34%   8.26%West             7.07%   7.01%   8.11%         7.08%   7.00%   8.09%United States    7.20%   7.16%   8.19%         7.21%   7.17%   8.19%                           United States Average                      ---------------------------                          New          Existing                      Home Loans      Home Loans                      -----------     -----------1984    High/Low      14.65/13.20     14.67/13.211985    High/Low      13.26/11.56     13.28/11.581986    High/Low      11.03/ 9.47     11.03/ 9.471987    High/Low      10.84/ 9.04     10.87/ 9.041988    High/Low      10.55/ 9.80     10.56/ 9.811989    High/Low      10.93/ 9.70     10.95/ 9.691990    High/Low      10.46/ 9.75     10.48/ 9.761991    High/Low       9.66/ 8.67      9.65/ 8.661992    High/Low       8.91/ 7.95      8.92/ 7.951993    High/Low       8.19/ 6.89      8.19/ 6.891994    High/Low       9.34/ 7.13      9.34/ 7.131995    High/Low       9.32/ 7.46      9.33/ 7.461996    High/Low       8.67/ 7.73      8.65/ 7.731997    High/Low       8.25/ 7.38      8.25/ 7.39  Data as of: May 1, 1998                           HFEP: 6-02-98***HSG/FHA Home Page | Reports Menu | Email Us***** |
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