BANKING & FINANCE - Aug. 26, 1994
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From Times Staff and Wire Reports
30-Year Mortgage Rates Up Slightly: The average interest rate on 30-year, fixed-rate mortgages rose to 8.56% this week from 8.54% the previous week, the Federal Home Loan Mortgage Corp. said. Mortgage rates, which hit a 25-year low of 6.74% last October, climbed above 8% in late March after the Federal Reserve Board began tightening credit to control inflation. The rates do not include add-on fees known as points.
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