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BANKING & FINANCIAL SERVICES | NATION/WORLD

30-Year Fixed-Rate Mortgage Rates Rise

March 07, 1997|Times Staff and Wire Reports

Thirty-year, fixed-rate mortgages averaged 7.845% this week, the second consecutive weekly increase and the highest in five weeks, Freddie Mac said. The increase, from 7.65% last week, put the rate at the highest since late January, when rates averaged 7.88%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.54%, up from 5.49% last week. Fifteen-year mortgages averaged 7.35% this week, up from 7.15% a week earlier. The rates do not include points.

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