BANKING & FINANCE - Feb. 1, 1992

Mortgage Rates Rise: Thirty-year, fixed-rate mortgages rose to an average of 8.68% this week, the third consecutive increase, according to a national survey. The rate was up from 8.56% last week and the highest since fixed rates bottomed at 8.23% in the week ending Jan. 10, according to the Federal Home Loan Mortgage Corp. survey. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.93%, up from 5.90% last week. It was also the third weekly increase for ARM rates, which bottomed at 5.79% during the week ending Jan. 10. The rates do not include add-on fees known as points.