ECONOMY
From Times Staff and Wire Reports
Fixed-rate mortgages averaged 9.48% this week, up from 9.45% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the highest in three weeks. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.24%, up from 7.17% last week. The rates do not include add-on fees known as points.
