South Florida Sun Sentinel from Fort Lauderdale, Florida • Page 52

8D Sun-Sentinel, Wednesday, July 8, 1992 RATES MORTGAGE FROM PAGE 1D Dropoff in rates failing to prompt quick buying surge Point of interest A comparison of the prime rate, the rate banks historically charge their best customers, and the discount rate, interest the Federal Reserve charges commercial banks for loans. A major factor behind eroding mmm confidence levels is the country and Florida's rising unem ployment rates. Jeanette Bowman said she and her husband are lucky because mm mmm they have steady jobs that allowed them to save the money to buy a house. its vmsm a "Some friends call me a TjTfil Last week, mortgage rates dropped to almost their lowest level in 18 years. The average rate on standard 30-year, fixed- ik 10 Prime Fj! MM 1 Discount 2 1 0 1 I Jewish Robin Hood, because I rwi rate mortgages dropped to 8.29 percent, the lowest since the I week ending Jan.

10, according to I help wealthy benefactors give gifts and hHOM PAGE ID Major U.S. banks lower their rates on savings, CDs try analyst for Donaldson Lufkin Jenrette Securities Corp. in New York. "There has to be a bottom to which people will keep money in the banks." During the last round of severe interest rate cuts in December, consumers responded by putting money from savings accounts or expiring CDs into higher yielding stocks, mutual funds and longer-term bonds. Bank of America, Citibank and Chase are among the large banks that are trying to prevent the flight of consumer cash by promoting investments in uninsured mutual funds or tax-deferred annuities offered through separate subsidiaries.

"Though we may not keep it in the bank, we keep it in the family," said Ken Mills, spokesman for Chase Manhattan Bank. None of the three banks reported an unusual surge in activity since the Fed's rate cut on Thursday. David Weymouth, head of Bank of America's investment services unit, predicts consumers will seek investment alternatives when their CDs expire or when customers review their monthly bank statements. "I'm personally a bit worried that in the consumers' quest for higher returns that they will start to move into investments and the endowments to their favorite charities and causes. In any case, I need constant updates on state laws that might affect nonprofit, philanthropic organizations like ours.

So '86 "87 '88 '89 '90 '91 '92 SOURCE: The Associated Press I'm delighted with how thoroughly the Sun-Sentinel covers the 1 amount of risk they don't understand," Weymouth said. But one stock analyst said consumers will be more careful about buying stocks because economic uncertainty. "People are reluctant and their confidence is ebbing a little bit," said Eugene Peroni, an analyst for Janney Montgomery Scott in Philadelphia. "If the corporate earnings appear to improve, then I think you will see a new wave." From the Florida Legislature to your special interests, whatever gets your attention gets ours. That's why we have more people covering Broward and South Palm Beach than all other newspapers, TV and radio stations combined.

Whoever you are, whatever your interests, if it's important to you, it's important to us. the Federal Home Loan Mortgage Corp. Also, home construction activity in South Florida is up from last year: In Palm Beach County, single family permits issued during the first half of the year improved by 35 percent, according to the Home Builders and Contractors Association. In Broward, residential construction activity in May improved by 13 percent, according to a report by F.W. Dodge.

Rates on adjustable mortgages also dropped to new lows. The declines spurred activity. "Phone calls picked up immediately after the rates dropped last Thursday," said Frank Moore, spokesman for California Federal Bank, which operates 26 branches in South Florida. "People are keeping their eyes and ears open. This latest rate drop has been triggering some interest, but it remains to be seen if it results in mortgage tions," Moore said.

Declining rates can do nothing but improve activity at Glen Walk, a single-family home community under construction in Coral Springs, said Harry Posin, senior vice president with Minto, the company building the 173-home project. About one-third of the homes have been sold since sales began at the end of January, he said. "Lower rates positively affect all markets psychologically; they signal it's time to buy, that the government is trying to get the economy moving and is using housing to lead a recovery," he said. Value Mart stores schedule 2 grand openings for today Sewt doe Mirgi-ry on llush' eiluvatiot! tklau. 3A.

MK1RO: k.ra of excJusitv Kubdivisious limy be ending. IB. Sun-Sentinel A Governor calls for heal ill care KuMtiuiiK tnuv cut off -1 iilm Miuiir That doesn't dampen the spirits of the folks behind The Value Mart. "In today's economy, shoppers are searching for the best retail bargains," general manager Warren T. Robbins said.

"And because we are indoors, consumers can find values here in a cool, comfortable atmosphere all day, without having to compete with an early-morning rush." The first 250 shoppers each day, today through July 19, will receive complimentary "Value Bucks" to be used at any merchandise booth within the store. By RACHEL L. NEWMAN Staff Writer Bargain hunters don't have to worry about getting sunburned at The Value Mart because all 78,000 square feet of booths and shops is indoors. The Value Mart, which opens today in Davie and Homestead, features all new merchandise and an international food court. The flea market will be open Wednesdays through Sundays.

The Value Mart took over two former Ames locations after the chain went into bankruptcy. i Mark Glickman, Director, Jewish Community foundation South Palm Beach County Jewish Federation If v. 7 mm NOTICE OF PERMITTED USE CHANGE The City of Margate proposes to change the permitted use of land within the area shown in the map in this advertisement. The City proposes to amend the Zoning Code by Ordinances described below: ORDINANCE AMENDING PERMITTED USES IN B-1 NEIGHBORHOOD BUSINESS DISTRICT. ORDINANCE AMENDING PERMITTED USES IN B-2 COMMUNITY BUSINESS DISTRICT.

ORDINANCE AMENDING PERMITTED USES IN B-2A REGIONAL BUSINESS DISTRICT. ORDINANCE AMENDING PERMITTED USES IN B-3 LIBERAL BUSINESS DISTRICT. ORDINANCE AMENDING PERMITTED USES IN M-1 LIGHT INDUSTRIAL DISTRICT. ORDINANCE AMENDING MASTER LIST OF COMMERCIAL AND RESIDENTIAL COMPATIBILITY; PROVIDING FOR AMENDMENTS TO PERMITTED USES. A public hearing on the proposed ordinances will be held at the Municipal Building, 5790 Margate Boulevard, Margate, Florida at 5:15 P.M., Tuesday, July 14, 1992.

All interested parties may appear and be heard regarding these proposals. rl ill Cation FAXPH072E 40 FAX MACHINE 10 page automatic document feeder 8 stations autodialer 15-seconds-per-page transmission speed Answering machine connection Uses 328' paper roll FaxTel auto switchover No. 485-987 List 795.00 corporate fr IJ si I i I 1 a WINMEID BlVP I I I maqTr 1 ni 'Vrv. COCONUT 8 i i i ATLANTIC Z7Ci I SO'jTwGtTC Blvd I roEST tivo. II io i LIMITS 5 lo I FOR FREE, NEXT DAY DELIVERY! On this Item Call 1-800-685-8800 Or Fax Your Order 1-800-685-5010 'Represents the savings oft the catalog list price Lauderdale Lakes 3301 N.

State Road 7 North Miami 12190 Biscayne Blvd. Miami 8665 S.W. 40th St Boymon Beach 260 N. Congress Ave. Boca Raton 123 N.W.

13th St West Boca 8095 Glades Rd. Lake Worth 4558 Lake Worth Rd. Miami 15033 S. Dixie Hwy. West Palm Beach 2627 Okeechobee Blvd.

Margate 5500 W. Sample Rd. Davie 1940 S. University Dr. Hialeah 5301 W.20th Ave.

Pompano951EMcNabRd. Pembroke Pines 650 N. University Dr. Miami 831 IW.Ragler St a Lauderdale 5300 N.W. Ninth Ave.

North Miami 19905 N.W. 2nd Ave. Miami 2120 SW. 32nd Ave. Holnvmod 4901 Sheridan St If a person decides to appeal any decision made by the City Commission with respect to any matter considered at this Public Hearing, he will need a record of the proceedings and for such purpose may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is If anyone is crazy enough to sell what we sell for less, show us and you'll get the lower price, plus 50 of the difference as a credit toward your Office Depot purchase (maximum $50 credit).

to be based. J. OPEN OUT: UT- SU-'1Qfl3am-6i)Opm 1 American txpra Officf Depot Durgt Can) ACCEPT: Discover. Vita, Mastercard.