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Job growth fell just short of expectations in September and the unemployment rate declined despite efforts by the Federal Reserve to slow the economy, according to the Labor Department.  Nonfarm payrolls increased 263,000 for the month, compared to the Dow Jones estimate of 275,000.  The unemployment rate was 3.5% vs the forecast of 3.7% as the labor force participation rate edged lower and the size of the labor force decreased by 57,000.

Renter protections from Oregon’s pandemic-era emergency rent assistance program expired Friday, eliminating the last renter safety net policies tied to the economic fallout from the pandemic.  Landlords can now resume a three-day or six-day eviction notice. And they can now evict tenants for back rent they didn’t pay during the pandemic.

Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008.  Mortgage buyer Freddie Mac reported that the average on the key 30-year rate dipped to 6.66% from 6.70% last week. One year ago, the rate stood at 2.99%.  The average rate on 15-year, fixed-rate mortgages, popular among those looking to refinance their homes, came down to 5.9% from 5.96% last week.

 

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