BANKING & FINANCE - Oct. 29, 1993
From Times Staff and Wire Reports
Mortgage Rates Rise: Interest rates on 30-year, fixed-rate mortgages rose to 6.86% this week after hitting a 25-year low the week before, the Federal Home Loan Mortgage Corp. reported. This week’s average was up from 6.74% a week ago. It was only the second increase in 13 weeks. Fifteen-year mortgages, an increasingly popular option for people refinancing mortgages, averaged 6.40% this week, up from 6.31% a week earlier. The rates do not include add-on fees known as points.
