BANKING & FINANCE - Jan. 6, 1995
From Times Staff and Wire Reports
Mortgage Rates Rise: Thirty-year fixed-rate mortgages averaged 9.22% this week, up from 9.18% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the highest average since Dec. 15, when it was 9.25%. The average hit a 25-year low of 6.74% in October, 1993. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 6.83%, up from 6.75% last week. The rates do not include add-on fees known as points.
