REAL ESTATE
Times Staff and Wire Reports
30-Year Mortgage Rates Hit 14-Month High: Thirty-year fixed-rate mortgages nationwide averaged 8.39% this week, the Federal Home Loan Mortgage Corp. said. That’s up from 8.30% last week and the highest since the week ended April 6, 1995, when it was 8.41%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.91%, up from 5.86% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.90% this week, up from 7.80%. The rates do not include the fees known as points.
