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30-Year Mortgage Rates Increase to 7.65%

February 28, 1997|Times Staff and Wire Reports

Thirty-year, fixed-rate mortgage rates averaged 7.65% this week, up from 7.56% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.49%, up from 5.45% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.15% this week, up from 7.06% a week earlier. The rates do not include add-on fees known as points.

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