--- title: "US mortgage rates hit nearly 3-year high as jobs growth slows" publication: "MediaBias News" url: "https://mediabias.news/business/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows" api: "https://mediabias.news/api/v1/stories/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows" markdown: "https://mediabias.news/business/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows.md" audio: "https://mediabias.news/api/audio/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows" category: "Business & Economy" area: "United States" published: "2026-10-03T15:45:45.265Z" source_reported: "2026-10-03T15:04:55.000Z" updated: "2026-10-03T15:45:45.265Z" trust_score: 50 critic_score: 60 hype_score: 40 assessment_type: "coverage-and-source-reporting-analysis" fact_check_status: "not-performed" coverage_measured: "2026-10-03T16:45:31.184990+00:00" --- # US mortgage rates hit nearly 3-year high as jobs growth slows *Consumer confidence falls to lowest point since 2014, while wage growth shows smallest annual gain since May 2021.* **Scores for the source reporting** (0-100, assessing the original journalism this article was written from, not this write-up): - Trust 50 of 100, higher is better. Central claims are attributed to the Labor Department and Freddie Mac, with two independent outlets publishing full reports. - Craft 60 of 100, higher is better. The reporting clearly separates facts from comment and provides specific figures, dates, and places. - Hype 40 of 100, lower is better. The headline accurately reflects the content of the articles, with mild emphasis on economic concerns. Scored by MediaBias News; method at https://mediabias.news/methodology. **The short version** - The average U.S. mortgage rate for a 30-year fixed loan increased to 7.28%, a nearly three-year high. - U.S. employers added 29,000 jobs in September, a sharp decrease from August's revised 133,000. - The unemployment rate rose to 4.2% in September from 4.1% the previous month. - Consumer confidence fell to 81.9 in September, the lowest figure recorded since April 2014. The average rate for a 30-year fixed mortgage in the U.S. has reached 7.28%, marking the highest level in nearly three years. This represents an increase from 7.03% the previous week. Concurrently, U.S. employers added 29,000 jobs in September, a substantial drop from the revised figure of 133,000 jobs added in August. The nation's unemployment rate also saw a slight increase, moving to 4.2% in September from 4.1% in August. Americans' confidence in the economy has declined, with the consumer confidence index falling to 81.9 in September, its lowest point since April 2014. Wage growth has also slowed, with average hourly wages increasing by 3% over the last year. This is the smallest year-over-year gain recorded since May 2021. Data from the Labor Department also indicated a decrease in U.S. job openings in August, with 7.08 million openings reported, down from a revised 7.34 million in July and below the 7.2 million expected by forecasters. This figure represents the lowest number of job openings since March. ## Disagreement on job growth figures While the verified claims state that U.S. employers added 29,000 jobs in September, a decrease from the revised 133,000 jobs added in August, the full report from My Mother Lode includes additional detail. My Mother Lode reported that Labor Department revisions also shaved 60,000 jobs off combined July and August payrolls. None of the other reports provided this specific detail regarding the revisions to previous months' job figures. ## What the coverage left out None of the left-rated digests mention the U.S. economy growing at a 2.2% pace in the second quarter, a detail included in the full reports from My Mother Lode and The Independent (US). The right-rated digest from Marietta Daily Journal does not mention the consumer confidence index falling to 81.9 in September, nor does it mention the average hourly wages being up 3% last year from a year earlier, the smallest year-over-year gain since May 2021. ## Who covered it Shares of the 15 covering outlets with a published leaning rating: - Left: 47% (7) - Centre: 46% (7) - Right: 7% (1) 1 of 16 covering outlets carried no usable leaning rating and were excluded from those percentages. Coverage measured 2026-10-03T16:45:31.184990+00:00. **Coverage watch:** developing. Checked 5 times; 0 checks found a material change. Most recently checked 2026-10-03T17:00:12.699Z. ## How the sides framed it ### Left - Left-rated reports highlighted the decrease in job creation, noting that U.S. employers added a disappointing 29,000 jobs in September. They also pointed to the rise in the unemployment rate to 4.2% and the fall in consumer confidence to its lowest level since 2014. These reports mentioned that average hourly wages were up 3% last year from a year earlier, the smallest year-over-year gain since May 2021. The Independent (US) and The Independent mentioned that Americans remain flustered by the economy after five years of elevated inflation, potentially posing a risk to President Donald Trump and Republicans in the midterm elections. Daily Record and The Record also noted the increased cost of living, with trips to the grocery store and gas station being more painful than the previous year. ### Centre - Centre-rated reports focused on the key economic indicators: the rise in the average long-term U.S. mortgage rate to 7.28%, the decrease in job additions to 29,000 in September, and the increase in the unemployment rate to 4.2%. My Mother Lode and Washington Top News reported that consumer confidence fell to 81.9 in September, the lowest level since April 2014. These reports also noted the slowdown in wage growth, with average hourly wages up 3% last year, the smallest gain since May 2021. My Mother Lode also included details on U.S. job openings dropping in August to 7.08 million and the cooling of inflation in August, with consumer prices rising 3.4% compared to a year earlier. ### Right - The right-rated report from Marietta Daily Journal focused on the headline economic figures: U.S. employers added 29,000 jobs in September, a decrease from August's revised 133,000. It also noted the unemployment rate rose to 4.2% from 4.1% in August. The digest mentioned that hiring dropped from a revised 133,000 in August. **Provisional coverage gap:** right. The watch is not closed, so this is not yet a settled blindspot finding. ## Factuality profile of the covering outlets These are published factuality ratings of the outlets, not a verdict on whether this story or its claims are true. - mixed: 1 - high: 8 - unknown: 1 - veryHigh: 6 ## Verification scope This page compares coverage and scores the source reporting. It is not a ClaimReview verdict on whether the underlying event or claim is true. ## Original reporting this was written from - [My Mother Lode](https://mymotherlode.com/news/national/11190598/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [WBAL](https://wbal.com/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly - [The Toronto Star](https://thestar.com/news/world/united-states/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_bf1173e8-f93d-5ef5-8326-10250fe71bdf.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [The Hamilton Spectator](https://thespec.com/business/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_99c4be0a-42e6-5c6f-b0ca-278dcb4968b6.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [The Independent](https://independent.co.uk/news/americans-donald-trump-consumer-spending-iran-federal-reserve-b3060847.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [The Independent (US)](https://the-independent.com/news/americans-donald-trump-consumer-spending-iran-federal-reserve-b3060847.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [Marietta Daily Journal](https://mdjonline.com/news/national/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_dfa03682-eb29-5743-8979-0e4bb8fc70eb.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [Rutland Herald](https://rutlandherald.com/news/business/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_4c749265-f943-5c60-a539-55139b1eb4c9.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [The Daily Advance](https://dailyadvance.com/news/national/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_56e42609-295a-5be3-8a47-b6ca1423066f.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [Washington Top News](https://wtop.com/national/2026/10/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high) — America In Focus: unemployment rate climbs, mortgage rate hits nearly 3 year high – WTOP News - [Daily Record](https://dailyrecordnews.com/ap_news/business/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_c32dc0c1-df56-5301-9d15-cf2dcdac3f2b.html) — America In Focus: unemployment rate climbs, mortgage rate hits nearly 3 year high - [pmg-ky3.com](https://pmg-ky3.com/ap/ap_news/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_b4dd9607-3855-5f29-9128-ea35cba4c6ff.html) — America In Focus: unemployment rate climbs, mortgage rate hits nearly 3 year high - [WV News](https://wvnews.com/business/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_754b649c-2ecc-5f4f-b2ea-a508a6a1688e.html) — America In Focus: unemployment rate climbs, mortgage rate hits nearly 3 year high - [The Record](https://therecord.com/business/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high/article_ded46e61-a829-5350-8c63-5cfba3369b08.html) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [Winnipeg Free Press](https://winnipegfreepress.com/business/2026/10/03/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high) — America In Focus: Unemployment rate climbs, mortgage rate hits nearly 3 year high - [Durango Herald](https://durangoherald.com/articles/associated-press/america-in-focus-unemployment-rate-climbs-mortgage-rate-hits-nearly-3-year-high) — America In Focus: unemployment rate climbs, mortgage rate hits nearly 3 year high ## Questions **What is the current average U.S. mortgage rate?** The average rate for a 30-year fixed mortgage in the U.S. has risen to 7.28%. This is the highest it has been in nearly three years, an increase from 7.03% the previous week. **How many jobs were added in September?** U.S. employers added 29,000 jobs in September. This figure represents a significant decrease from the revised 133,000 jobs that were added in August. **What is the current U.S. unemployment rate?** The U.S. unemployment rate increased to 4.2% in September. This is a slight rise from the 4.1% rate recorded in August. **How has consumer confidence changed?** Americans' confidence in the economy has fallen to its lowest level since April 2014. The consumer confidence index dropped to 81.9 in September, down from 88.6 in August. --- MediaBias News — https://mediabias.news. Reproduced from https://mediabias.news/business/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows. Please cite as: MediaBias News, "US mortgage rates hit nearly 3-year high as jobs growth slows", https://mediabias.news/business/us-mortgage-rates-hit-nearly-3-year-high-as-jobs-growth-slows