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BRIEFLY

Real Estate

June 07, 1996|Times Staff and Wire Reports

30-Year Fixed-Rate Mortgage Rates Hit 12-Month High: The rate averaged 8.30% this week, the highest in more than a year, according to a national survey released by the Federal Home Loan Mortgage Corp. That was up from 8.03% last week and the highest since the average was 8.37% for the week ended April 13, 1995. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.86%, up from 5.76% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.80% this week, up from 7.54% a week earlier. The rates do not include add-on fees known as points.

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