MORTGAGE RATES LEAP TO 7YEAR HIGHS

WASHINGTON» Longterm U.S. mortgage rates leaped this week to their highest levels in seven years amid global anxiety over rising interest rates that has gripped financial markets.

Costs for wouldbe homebuyers are climbing. Mortgage buyer Freddie Mac said Thursday the rate on 30year, fixedrate mortgages jumped to an average of 4.90 percent this week from 4.71 percent last week. That’s the highest level for the benchmark rate since April 2011. A year ago, it stood at 3.91 percent.

The average rate on 15year, fixedrate loans rose to 4.29 percent this week from 4.15 last week.

The Federal Reserve recently signaled its confidence in the economy by raising a key interest rate for a third time this year, forecasting another rate hike before year’s end.

U.S. CONsuMEr PrICEs uP sLIGHtLy IN SEPt.

Consumer prices edged up a slight 0.1 percent in September as energy prices retreated after a big gain in August.

The Labor Department said Thursday the September gain in its closely watched consumer price index followed a 0.2 percent rise in August. It was the smallest monthly gain since June.

Inflation has been on a slight rise this year, after a prolonged run when prices kept falling below the 2 percent target set by the Federal Reserve. For the 12 months ending in September, consumer prices were up 2.3 percent.

THrEE FArMErs wILL PLEAD GuILty IN OrGANIC GrAIN FrAuD sCHEME.

IOWA» Three IOWA CITY,

Nebraska farmers will plead guilty to knowingly marketing nonorganic corn and soybeans as certified organic as part of a lengthy, multimilliondollar fraud scheme, federal prosecutors revealed Thursday.

Tom Brennan, his son James Brennan and family friend Michael Potter each agreed to plead guilty to one count of wire fraud. Their plea hearings are Friday in federal court in Cedar Rapids, Iowa.

DELtA PrOFIts sOAr.

Delta Air Lines reported a surprisingly large thirdquarter profit Thursday, and a key reason was the huge jump in revenue from first and businessclass tickets.