The National Association of Realtors said its index of housing affordability rose 3.6 points in the fourth quarter of 1994, to 131.6. But the index is still about 10 points below its level of a year ago.

Edmund Woods Jr., president of the association, said the rise resulted mostly from a seasonal drop in house prices and came despite an increase in mortgage rates. But with rates still on the rise, "there is no guarantee the quarter-to-quarter upward trek would continue into this year," Mr. Woods added.

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