The average interest rate on 30-year fixed-rate mortgages, which had edged down over the last three weeks, rose to 7.70 percent this week.
The average was up from 7.52 percent last week, according to a weekly survey released Thursday by Freddie Mac, the mortgage company.
Aside from the last three weeks, mortgages rates have been rising. Mortgage rates this year have ranged from a low of 6.74 percent at the end of January to a high of 7.71 percent for the week ended July 2.
Fifteen-year mortgages, a popular option for refinancing, averaged 7.29 percent this week, up from the average of 7.16 percent last week.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.99 percent this week, also up from 5.97 percent the previous week.
Separately, the Mortgage Bankers Association reported Wednesday that mortgage loan applications fell 3.1 percent last week and were down 25.6 percent compared with the same week last year.
PERSONNEL . . . Freddie Mac of McLean made these appointments: Byron L. Boston, vice president, corporate finance model development; Jan Luytjes, vice president, mortgage portfolio strategy; Richard L. Cooperstein, vice president, structured transactions; and Brian J. Green, vice president/controller in the Single-Family Securitization Group . . . Rappaport Cos. of Vienna promoted Scott W. Price to director of property management, and named Holly K. Edwards property manager . . . CFM Management Services in McLean named William H. Rhoten vice president and manager of the company's Annapolis office, and Katie Allardyce vice president, community services . . . James M. Murrey Jr. was appointed director, national marketing, of Opus National LLC, the Bethesda real estate developer . . . Donohoe Construction Co. in Washington named Dennis Barry senior vice president of construction operations.
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