REGION

REGION

Charley’s planning Wal-Mart celebration

LIBERTY — Charley’s Grilled Subs on Belmont Avenue is having a Wal-Mart grand-opening celebration next week, offering free samples of its products and visits from “Flip,” the Charley’s mascot. Charley’s owner, Chris Smallwood, has planned the celebration to honor Wal-Mart and the increased traffic its opening will bring to the area.

Smallwood, a former autoworker with Chrysler in Twinsburg, recently transformed an abandoned Burger King into one of Charley’s Grilled Subs’ newest franchise locations. He said he is banking on Wal-Mart to bring in more customers.

“With the recent economic downturn and last summer’s gas prices, it was tough to build a new business in this area. I’m anticipating the increased traffic on Belmont will increase my business, along with the other retailers along this strip,” he said.

The restaurant is located one-quarter of a mile south of the Liberty Wal-Mart at 3219 Belmont Ave.

NATION

Mortgage rates rise

McLEAN, Va. — Rates on 30-year mortgages rose this week, remaining above 5 percent after reaching a record low earlier this year, Freddie Mac said Thursday.

The average rate on a 30-year fixed-rate mortgage was 5.29 percent this week, up from 5.22 percent last week, Freddie Mac said. Last year at this time, the 30-year fixed-rate mortgage averaged 6.52 percent. Rates on 30-year mortgages dropped to a record low of 4.78 percent earlier this year but have been above 5 percent since June.

From staff and wire reports