clarinews@clarinet.com (02/03/90)
WASHINGTON (UPI) -- Rates for 30-year fixed mortgages rose 0.12 percentage points this week while adjustable-rate mortgages rose by 0.04 percentage points, the Federal Home Loan Mortgage Corp. said Friday. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans rose to 10.17 percent this week, from 10.05 percent the week before. Adjustable-rate mortgages averaged 8.45 percent, up from 8.41 percent last week. The fixed-rate average is for a 30-year loan covering 80 percent of a home's cost. The average adjustable-rate mortgage also is for 30 years but for 75 percent of the home price.