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BANKING

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From Times Staff and Wire Reports

Mortgage Rates Unchanged: Thirty-year, fixed-rate mortgages remained unchanged at 8.48% this week, according to a national survey released by the Federal Home Loan Mortgage Corp. The weekly average was the lowest since it stood at 8.45% during the week ending Jan. 17. Rates reached a 19-year low of 8.23% a week earlier, but climbed to 9.03% by late March before dropping again. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 5.78%, down from 5.84% last week and the lowest since Feb. 14, when the rate also was 5.78%. The rates do not include add-on fees known as points.

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