BANKING & FINANCE - June 17, 1994

30-Year Mortgage Rate Edges Up: Thirty-year, fixed-rate mortgages averaged 8.33% this week, up from 8.25% last week, according to a national survey by the Federal Home Loan Mortgage Corp. The rate was the highest since June 2, when it averaged 8.55%. The average hit a 25-year low of 6.74% in October. On one-year, adjustable-rate mortgages, lenders were asking an average initial rate of 5.43%, down from 5.45% last week. Fifteen-year mortgages averaged 7.83% this week, up from 7.79% a week earlier. The rates do not include add-on fees known as points.