Fixed Mortgage Rates Inch Higher: They averaged...
From Times Staff and Wire Reports
Fixed Mortgage Rates Inch Higher: They averaged 9.49% this week, up from 9.40% last week, according to the Federal Home Loan Mortgage Corp. It was the highest level since rates were 9.56% during the week ending Feb. 1. Rates fell to 9.25% on Feb. 15 before turning up again. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.51%, down from 7.53% last week and the lowest since rates averaged 7.49% during the week ending March 18, 1988. The rates do not include add-on fees known as points.
