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|**Secondary Market Report** | **December 1998**
|--------------------------- | -----------------



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### TABLE 2
Most Frequently Quoted Contract Rates and Yields
for FHA Mortgages Sold in the Secondary Market



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`============================================================================================
                Contract        Average                         Contract        Average
  Year           Rate           Yield 1/          Year          Rate            Yield 1/
--------        --------        --------        ---------       ------          --------
1993 Jan        8.00%           8.12%           1996  Jan       7.50%           7.52%
  Feb           8.00%           8.04%             Feb           7.00%           7.11%
  Mar           7.50%           7.55%             Mar           7.50%           7.57%
  Apr           7.50%           7.50%             Apr           8.00%           8.09%
  May           7.50%           7.50%             May           8.50%           8.52%
  Jun           7.50%           7.50%             Jun           8.50%           8.57%
  Jul           7.50%           7.50%             Jul           8.50%           8.55%
  Aug           7.50%           7.50%             Aug           8.50%           8.56%
  Sep           7.00%           7.00%             Sep           8.50%           8.58%
  Oct           7.00%           7.00%             Oct           8.50%           8.56%
  Nov           7.00%           7.00%             Nov           8.00%           8.00%
  Dec           7.50%           7.51%             Dec           8.00%           8.14%
                                                
1994 Jan        7.50%           7.52%           1997  Jan       8.00%           8.06%
  Feb           7.00%           7.00%             Feb           8.00%           8.06%
  Mar           7.50%           7.50%             Mar           8.00%           8.08%
  Apr           8.50%           8.50%             Apr           8.50%           8.55%
  May           8.50%           8.50%             May           8.50%           8.56%
  Jun           8.50%           8.50%             Jun           8.00%           8.05%
  Jul           9.00%           9.00%             Jul           8.00%           8.02%
  Aug           8.50%           8.50%             Aug           7.50%           7.61%
  Sep 2/        8.50%           8.50%             Sep           8.00%           8.02%
  Sep 2/        9.00%           9.03%             Oct           7.50%           7.52%
  Oct           9.00%           9.10%             Nov           7.50%           7.53%
  Nov           9.00%           9.23%             Dec           7.50%           7.51%
  Dec           9.50%           9.53%                           
                                                
1995 Jan        9.50%           9.54%           1998  Jan       7.00%           7.17%
  Feb           9.00%           9.10%             Feb           7.00%           7.08%
  Mar           9.00%           9.05%             Mar           7.00%           7.06%
  Apr           8.50%           8.60%             Apr           7.00%           7.09%
  May           8.50%           0.00%             May           7.25%           7.37%
  Jun           8.00%           8.03%             Jun           7.00%           7.07%
  Jul           8.00%           8.00%             Jul           7.00%           7.07%
  Aug           8.00%           8.09%             Aug           7.00%           7.05%
  Sep           8.00%           8.03%             Sep           7.00%           7.03%
  Oct           8.00%           8.03%             Oct           6.50%           6.53%
  Nov           7.50%           7.61%             Nov           7.00%           7.07%
  Dec           7.50%           7.51%             Dec           7.00%           7.02%

1/-Gross yield to investors, without allowance for servicing costs                                                      
   based on prepayment of the mortgage at the end of 12 years.                                                  
2/-The September 1, 1994 survey found two rates reported with equal                                                     
   frequency, evenly balanced between 8.50 and 9.00 percent.                                                    

   Data as of:  December 1, 1998                                        HQE:  12-21-98`