Mortgage Rates Rise a Bit: Thirty-year fixed-rate...
From Times Staff and Wire Reports
Mortgage Rates Rise a Bit: Thirty-year fixed-rate mortgages averaged 9.68% this week, up from 9.64% last week, according to a national survey by the Federal Home Loan Mortgage Corp. Two weeks ago, fixed-rate mortgages hit a 44-month low of 9.56% after peaking for 1990 at 10.67% during the week ending May 4. The average initial rate for one-year adjustable-rate mortgages was 7.92%, up from 7.86% last week, the lowest in 29 months. The one-year rate’s high for 1990 was 8.63% in the week ending May 11. Rates do not include add-on fees known as points.
