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BANKING & FINANCE

From Times Staff and Wire Reports

Mortgage Rates Up Slightly: Fixed-rate mortgages averaged 8.70% this week, up from 8.63% last week, according to a national survey by the Federal Home Loan Mortgage Corp. It was the highest rate in three weeks. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.34%, the same as last week. The rates do not include add-on fees known as points.


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