BANKING & FINANCE - Oct. 17, 1992
From Staff and Wire Reports
Mortgage Rates Hit 10-Week High: Interest rates on 30-year mortgages rose to a 10-week high of 8.06% this week, the Federal Home Loan Mortgage Corp. said. The new rate, up from 8.01% the week before, was the highest since rates also averaged 8.06% during the week ended Aug. 7. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.05%, up from 4.97% last week and the lowest since the corporation began tracking ARMs in 1984. The rates do not include add-on fees known as points.
