BANKING & FINANCE - April 2, 1993
From Times Staff and Wire Reports
30-Year Mortgage Rates Inch Higher: Interest on 30-year, fixed-rate mortgages rose to 7.53% in the week ended April 1, up from 7.50% in the previous week, the Federal Home Loan Mortgage Corp. said. The rate started the year at 8.07% and hit a 20-year low of 7.44% four weeks ago. On one-year adjustable-rate mortgages, lenders asked an average initial rate of 4.75%, the same as last week and the lowest since the company began tracking adjustable-rate mortgage rates in 1984. The rates do not include add-on fees known as points.
