DPA One

Average mortgage rates are creeping closer to 8%, piling more lousy news on top of recent sales declines and price spikes. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.63%, up from 7.57%. A year ago at this time, the 30-year FRM averaged 6.94%. On Wednesday, the daily rate hit 8%, pointing to further average increases next week. The 15-year fixed-rate rose to 6.92% from 6.89%. A year ago, it averaged 6.23%. “Not only are homebuyers feeling the impact of rising rates, but home builders are as well. Incoming data shows that the construction of new homes rebounded in September but as rates keep rising, home builders appear to be losing confidence,” said Sam Khater, Freddie…