U.S. mortgage rates shoot to 7-year high
(World News USA)

U.S. mortgage rates continued their weeks-long climb this week, according to Freddie Mac. The 30-year fixed mortgage averaged 4.9 percent for the week ending Oct. 11, a surge up from 4.71 percent the previous week. A year ago, mortgage rates stood at 3.91 percent. Favorable mortgage rates have helped drive U.S. home sales, as well as the refinance market. Sam Khater, Freddie Mac´s chief economist, said mortgage rates are now at their highest level since the week of April 14, 2011. `Rising... ......