BANKING & FINANCE - June 3, 1994
From Times Staff and Wire Reports
Mortgage Rates Rise: Thirty-year, fixed-rate mortgages averaged 8.55% this week, up from 8.53% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. The average hit a 25-year low of 6.74% in October. Fifteen-year mortgages averaged 8.02% this week, up from 7.99% a week earlier. On one-year, adjustable-rate mortgages, the average initial rate rose to 5.52%, from 5.48% last week.
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