BANKING

Mortgage Rates Up: Thirty-year, fixed-rate mortgages averaged 8.85% this week, up from 8.76% last week, according to a national survey released by the Federal Home Loan Mortgage Corp. It was the first increase after four consecutive weekly declines. On one-year adjustable rate mortgages, lenders were asking an average initial rate of 6.13%, up from 6.11% last week. The rates do not include add-on fees known as points.