BANKING & FINANCE - April 9, 1993
From Times Staff and Wire Reports
Fixed-Rate Mortgages Rise: Thirty-year, fixed-rate mortgages averaged 7.57% this week, up from 7.53% last week, according to a national survey by the Federal Home Loan Mortgage Corp. It was the highest rate in three weeks. Five weeks ago, the rate hit a 20-year low of 7.44%. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 4.81%, up from a nine-year low of 4.75% last week. The rates do not include add-on fees known as points.
