Unemployment Rate Rises, Mortgage Rates Hit Three-Year High
Summary
The U.S. unemployment rate increased as employers added 29,000 jobs last month, according to government reports. Mortgage rates reached their highest level in nearly three years, with the average long-term rate surpassing 7% this week. The rise in rates follows a trend of increasing borrowing costs. The unemployment increase and mortgage rate climb reflect ongoing economic pressures.
Latest: The unemployment rate climbed, and mortgage rates reached a three-year high, with the average rate hitting 7.28%.
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How it unfolded
Saturday 3 October
The unemployment rate climbed, and mortgage rates reached a three-year high, with the average rate hitting 7.28%.
- 11:29ABC NewsAmerica In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high
- 10:57The Philadelphia InquirerAmerica In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high
Friday 2 October