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BRIEFLY

November 10, 1987

Adjustable-rate mortgages saved home buyers between 18% and 40% over mortgages with fixed rates in the past six years, the savings and loan industry said. A study by the U.S. League of Savings Institutions found that a person who bought a house with a $100,000 adjustable mortgage in November, 1981, would have saved $40,059 in interest over a fixed rate mortgage of the same amount up to September of this year. The industry group said it surveyed 22,000 mortgage borrowers nationwide for the study.

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