BANKING & FINANCE - March 21, 1992

Mortgage Rates Rise Above 9%: Thirty-year, fixed-rate mortgages rose above 9% this week for the first time since September, according to a national survey by the Federal Home Loan Mortgage Corp. The survey showed rates averaged 9.03%, up from 8.88% last week. It was the first time they exceeded 9% since Sept. 13, when they averaged 9.02%. It also was the highest since they averaged 9.14% a week earlier than that. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 6.22%, up from 6.04% last week.