REAL ESTATE
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Mortgage Rates Rise: Thirty-year fixed-rate mortgages averaged 7.88% this week, up from 7.86% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the highest since Oct. 3, when rates averaged 8.06%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.62%, down from 5.68% last week. Fifteen-year mortgages, a popular option for those refinancing mortgages, averaged 7.39% this week, up from 7.38% a week earlier. The rates do not include fees known as points.
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