The average interest rate on 30-year, fixed-rate mortgages rose to 7.93 percent this week, up from 7.85 percent last week and the highest level in two months, according to a weekly survey released Thursday by the mortgage company Freddie Mac.
Fifteen-year mortgages, a popular option for refinancing, averaged 7.53 percent this week, up from the average of 7.45 percent last week.
On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 6.30 percent this week, down slightly from 6.31 percent last week.
IN THE NEWS . . . The deadline for applying to Long & Foster Real Estate Inc.'s $60,000 scholarship program, open to high school seniors from the region entering an accredited four-year college or university, is March 1, 2000. Applications are available from high school guidance counselors, Long & Foster offices, or on the Internet at www.longandfoster.com/scholarship . . . Equity Management of Hyattsville, which owns and manages rental properties, has moved its corporate headquarters to Laurel . . . Century 21 New Millennium has acquired Century 21 Jay Webster & Associates in Upper Marlboro and Century 21 Stone & Associates in Lexington Park.
AWARDS . . . The Prince George's County Beautification Committee presented 13 beautification awards to Bozzuto Landscaping Co., a subsidiary of Bozzuto Group builders, at the 1999 Beautification Awards ceremony Sept. 29.
UPCOMING EVENTS . . . Long & Foster Real Estate Inc. will hold free seminars for those considering a real estate career at 6:30 p.m. Monday at the Chevy Chase and Woodley Park offices. To register, call Holly Worthington at 202-363-9700 . . . The National Association of Home Builders will hold its Construction Forecast Conference at 8:30 a.m. Wednesday at the Georgetown University Conference Center, 3800 Reservoir Rd. NW. The cost is $300. For more information, call Steve Melman at 202-822-0245 . . . The Housing Association of Nonprofit Developers in Arlington will host a free lunch meeting from noon to 1:30 p.m. Thursday with Susan Dewey, the new executive director of the Virginia Housing Development Authority. The meeting will be held at RPJ Housing, 2666 Military Rd., Arlington. For registration or more information, call 301-493-5507, or send e-mail to firstname.lastname@example.org . . . Registration has begun for the 13th annual Realtor Fair, co-sponsored by the Greater Capital Area Association of Realtors and the Washington, D.C., Association of Realtors, to be held at the Washington Convention Center Tuesday, Dec. 7. Registration by Nov. 18 will be $139 for Realtors, $159 for non-Realtors; registration at the door will be $179. For information, call Stewart Small at 301-590-8764.
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