BANKING

Mortgage Rates Rise to 5-Month High: Thirty-year, fixed-rate mortgages rose to a five-month high of 8.34% this week, according to a survey released by the Federal Home Loan Mortgage Corp. It was the highest rate since the week ended June 26, when the average was 8.48%. The rate has been edging higher since early September, when it reached a 19-year low of 7.84%. On one-year adjustable-rate mortgages, lenders were asking an average initial rate of 5.52%, up from 5.34% last week. That rate was the highest since the week ended July 10, when the average was 5.56%. Rates do not include add-on fees known as points.