The average interest rate on 30-year fixed-rate mortgages climbed to 7.51 percent this week, the highest level in nearly two years.
Mortgages rates have been rising for the past two months and now stand nearly a percentage point above their low for the year of 6.74 percent at the end of January.
This week's average was up from 7.41 percent last week and was the highest since September 1997, Freddie Mac said Thursday.
Fifteen-year mortgages, a popular option for refinancing, averaged 7.13 percent this week, up from 7.04 percent last week.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.92 percent, up from 5.85 percent the previous week.
PERSONNEL . . . Fannie Mae in Washington made the following appointments: Thomas E. Donilon, senior vice president, general counsel and secretary; Vada Hill, senior vice president, marketing; Jaynie M. Studenmund, senior vice president of the company's western regional office; Earl Thomas Booker III, senior vice president, technology marketing; Terri L. Davis, vice president, technology sales and consulting; Theodore E. Maness III, vice president, industry relations; Geoffrey Smith, vice president, marketing, northeastern regional office; Roger L. Williams, vice president, community-based lending . . . Stephen Dimond joined Tishman Construction Corp. in the District as project manager for the mid-Atlantic region.
UPCOMING EVENTS . . . The Greater Baltimore Board of Realtors will hold its 1999 Realtor Awards event Thursday at 12:30 p.m., at the Suburban Club of Baltimore, 7600 Park Heights Ave., Pikesville. For more information, call 410-337-7200 . . . Housing Counseling Services' Homeowners' Club will present its free "Building Bridges, Tapping Into Resources That Bring Communities Together" seminar from 10:30 a.m. to 12:30 p.m. June 19 at the Whitelaw Apartments, 13th and T streets NW. Call 202-667-7006 to reserve a space.
Send realty announcements to Brian Krebs, Real Estate Notes, The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.