D.2 Interest Rates for New Financing and Refinancing for Lending Institutions Responding in 1993 and 1994

            Interest Rates      Points           Term              Type

Institution  1994    1993    1994    1993     1994   1993      1994    1993

B-05         7.5%    8.3%     1.0     1.0      5.0    5.0       fxd     fxd
B-27         8.1%    9.0%     1.0     1.0     10.0   10.0       adj     adj
B-62         8.5%    9.5%     1.5     1.5      5+5   10.0    fxd/adj   fxd/adj
B-70           8%    8.5%     1.0     1.0      5.0    5.0       fxd     fxd
B-71         7.8%    9.0%     1.0     1.0      5.0    5.0       fxd     fxd
C-09         8.1%    9.0%     1.5     2.0     15.0   10.0       fxd     fxd
SL-15          8%    9.0%     1.5     1.5     15.0     NA       adj     fxd

Avg            8%    8.9%     1.2     1.3      9.3    7.5         -       -

Note: The difference between new interest rate and refinancing interest rate is
negligible.

Source: 1994 RGB Mortgage Survey.