Something is mighty fishy.
Or the input frequency for the VFO as set should 3.915mhz.
48.915mhz -45.000= 3.915mhz
Try raising the signal generator from 3.8mumble to 3.915 and see if things get better.
The LO for converting from 45 to ~12mhz if should be either 33. or 57. withoutly a
few khz from those.? IF the SA is right that seems off too.
Allison