Mortgage rates shoot up to their highest level in nearly 8 years

The 30-year fixed-rate average increased to 4.94 percent. (J. Lawler Duggan for The Washington Post) Kathy Orton Reporter and editor covering the Washington metropolitan area housing market November 8 at 10:06 AM Strong employment numbers caused mortgage rates to take off with the 30-year fixed-rate average the highest it has been in nearly eight years.…

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