Unemployment rate climbs, mortgage rate hits nearly 3 year high - WBAP

U.S. employers added a disappointing 29,000 jobs and the unemployment rate ticked up last month, the government reported Friday. Hiring dropped from a revised 133,000 in August, the Labor Department said. The unemployment rate rose to a still-low 4.2% from 4.1% in August. Meanwhile, the average long-term U.S. mortgage rate jumped this week to its highest level in nearly three years. The benchmark 30-year fixed-rate mortgage rose to 7.28% from 7.03% last week, mortgage buyer Freddie Mac said Thursday, the biggest leap in several years. A year ago, the average rate was 6.34%.