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THIRD FEDERAL HOME LOAN RATES ARE AT 30-YEAR LOWS (d)

 CLEVELAND, Sept. 13 /PRNewswire/ -- Not since 1960 has Third Federal Savings and Loan offered a 30-year home loan with a rate of 6.00 percent. Until today.
 Beginning today, Third Federal is offering 30-year mortgage loans at 6.00 percent with a 6.43 percent annual percentage rate (APR). Rates for 10-year mortgages are 5.25 percent (6.24 percent APR) and 15-year mortgages are 5.50 percent (6.20 percent APR).
 Mortgage rates quoted include three points, but rates without points still represent lows in the marketplace -- 10-year at 6.00 percent (6.33 percent APR), 15-year at 6.25 percent (6.49 percent APR), 30-year at 6.75 percent (6.90 percent APR).
 "As Ohio's leading mortgage lender, we always strive to offer the lowest rates possible," said Marc A. Stefanski, Third Federal chairman and chief executive officer. "We remain dedicated to our 55-year mission of helping people in our community to own their own homes."
 Already in 1993, because of unprecedented low rates, the company has been experiencing a banner year for home loans, according to Stefanski. Last year's all-time high of 10,000 loans was eclipsed last month with expectations of putting 15,000 loans valued at about $1.3 billion on the books by year end.
 Stefanski credits Third Federal associates for getting the job done. "Our associates have been working very hard to accommodate all new and old customers this year," says Stefanski, "and we're using new technology to help us keep up with the business."
 Third Federal Savings is a $4 billion savings and loan that has been serving customers in northeast Ohio for 55 years. Founded by Ben S. Stefanski and headquartered on Broadway Ave. in the southeast area of Cleveland, the company now has 23 branches, with offices in Cuyahoga, Lake, Lorain and Summit counties.
 -0- 9/13/93
 /CONTACT: Marc A. Stefanski, chairman and chief executive officer, Third Federal Savings and Loan, 216-441-6000/


CO: Third Federal Savings and Loan ST: Ohio IN: FIN SU:

AR-BM -- CL012 -- 1348 09/13/93 13:32 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
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