CONSUMER NEWS
From Times Staff and Wire Reports
Mortgage Rates at Year’s Peak: Fixed-rate home mortgages are currently averaging 10.67%, their highest rate in nearly a year, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the highest rate since fixed-rate mortgages averaged 10.69% last May 19. They averaged 10.56% last week. On one-year adjustable-rate mortgages, lenders asked an average initial rate of 8.62% last week, up from 8.56% the week before.
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