BANKING & FINANCE - Sept. 6, 1996
Times Staff and Wire Reports
Mortgage Rates Rise: Rates for 30-year mortgages jumped to 8.34% this week, climbing to the highest level in two months, according to a national survey released by the Federal Home Loan Mortgage Corp. The rate was up from 8.09% last week and was the highest since rates reached 8.42% in early July. Before that, rates had not been that high since March 1995. One-year adjustable-rate mortgages climbed to 5.85% this week, up from 5.75%. Mortgages with a 15-year term, a popular option for those refinancing, averaged 7.88%, up from 7.60% last week.
