BANKING & FINANCE - May 30, 1992
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From Times Staff and Wire Reports
Mortgages Rates Rise: Thirty-year, fixed-rate mortgages averaged 8.6% this week, up from 8.53% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. The increase broke a string of four consecutive declines. Rates had fallen to a 19-year low of 8.23% in early January, climbed to 9.03% by late March and have fallen in most weeks since. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.96%, up from 5.93% last week.
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