BANKING & FINANCE - June 17, 1991
From Times Staff and Wire Reports
Mortgage Rates Rise: Fixed-rate mortgages averaged 9.66% last week, up from 9.48% the week before, according to the Federal Home Loan Mortgage Corp. It was the highest rate since the week ending Jan. 18, when the average was 9.75%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 7.22%, down from 7.24% last week. The rates do not include add-on fees known as points.
