BANKING & FINANCE - Sept. 9, 1994
From Times Staff and Wire Reports
Fixed-Rate Mortgages Rise: Thirty-year, fixed-rate mortgages averaged 8.51% this week, up from 8.48% last week, according to a national survey by the Federal Home Loan Mortgage Corp. It was the highest since Aug. 25, when the average was 8.56%. The average hit a 25-year low of 6.74% last October. Fifteen-year mortgages averaged 8.03% this week, up from 7.96% a week earlier. The rates do not include add-on fees known as points.
