BANKING & FINANCE - Feb. 29, 1992
From Times Staff and Wire Reports
Mortgage Rates Higher: Thirty-year, fixed-rate mortgages averaged 8.83% this week, edging up to their highest level since last October, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate was up from 8.82% last week and was the highest since it averaged 8.91% during the week ending Oct. 25. Rates have been rising since they dropped to 8.23% during the week ending Jan. 10. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.93%, up from 5.92% last week. The rates do not include add-on fees known as points.
