THE ECONOMY

* Freddie Mac said the average interest rate on 30-year fixed-rate mortgages settled back to 7.82% this week from 7.88% last week. The rate for 15-year mortgages, a popular option for refinancing, averaged 7.43% last week, down from 7.49% the week before. The rates do not include add-on fees known as points, which averaged at or a little more than 1% of the loan amount for all three types of mortgages.