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Real Estate

August 30, 1996|Times Staff and Wire Reports

30-Year Fixed Mortgage Rates Rise: Thirty-year fixed-rate mortgages averaged 8.09% this week, up from 7.93% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the highest since Aug. 1, when rates averaged 8.23%. It was the second weekly advance. Rates, which reached 8.42% on July 11, had fallen to 7.88% the weeks of Aug. 8 and Aug. 15. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.75%, down from 5.79% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.60% this week, up from 7.45% a week earlier. The rates do not include add-on fees known as points.

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