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| **Secondary MarketReport** | **January1998**
TABLE 5 AverageInterestRates on Conventional First Mortgages **New Home Loans              Existing Home Loans                ----------------------        ----------------------                Jan'98  Dec'97  Jan'97        Jan'98  Dec'97  Jan'97                ----------------------        ----------------------Northeast        7.48%   7.65%   8.00%         7.48%   7.65%   8.00%Middle Atlantic  7.23%   7.21%   7.63%         7.23%   7.25%   7.63%Southeast        7.14%   7.35%   7.86%         7.14%   7.35%   7.86%North Central    7.32%   7.40%   8.06%         7.31%   7.41%   8.07%Southwest        7.24%   7.50%   7.88%         7.24%   7.50%   7.88%West             7.19%   7.25%   7.96%         7.11%   7.27%   7.96%United States    7.25%   7.38%   7.91%         7.23%   7.39%   7.91%                           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: Jan 1, 1998                           HFEP: 1-01-98***HSG/FHA Home Page | Reports Menu | Email Us***** |
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