BANKING & FINANCE - Feb. 9, 1996
Times Staff and Wire Reports
30-Year Mortgage Rates Unchanged: Thirty-year, fixed-rate mortgages averaged 7.02% this week, unchanged from a week earlier, according to a national survey released by the Federal Home Loan Mortgage Corp. The latest average also matched the 7.02% rate during the week of Jan. 18, which had been the lowest since rates averaged 6.97% during the week of Feb. 3, 1994. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.33%, down from 5.37% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 6.51% this week, down from 6.52% a week earlier. The rates do not include add-on fees known as points.
