Wednesday, November 11, 2026Mortgage news · Rates & market context

Jobs · ORIGINAL ECONOMIC RELEASE

September 2026 Employment Cost Index

Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2026, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.7 percent, and…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2026, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.7 percent, and benefit costs increased 0.9 percent from June 2026. (See tables A, 1, 2, and 3.)

Compensation costs for civilian workers increased 3.4 percent, not seasonally adjusted, for the 12-month period ending in September 2026. Wages and salaries increased 3.1 percent, and benefit costs increased 3.9 percent over the year. (See tables A, 4, 8, and 12.)

Compensation costs for private industry workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2026. Wages and salaries increased 0.8 percent, and benefit costs increased 0.9 percent from June 2026. (See tables A, 1, 2, and 3.)

Compensation costs for private industry workers increased 3.4 percent, not seasonally adjusted, for the 12-month period ending in September 2026. Wages and salaries increased 3.1 percent, and benefit costs increased 3.9 percent over the year. Inflation-adjusted (constant dollar) wages and salaries decreased 0.6 percent over the year. (See tables A, 5, 9, and 12.)

Within the private industry, compensation costs increased 4.3 percent for union workers and 3.3 percent for nonunion workers for the 12-month period ending in September 2026. Wages and salaries increased 4.3 percent for union workers and 3.0 percent for nonunion workers over the year. Benefit costs increased 4.3 percent for union workers and 3.9 percent for nonunion workers over the year. (See tables 6, 10, and 12.)

Compensation costs for state and local government workers increased 0.6 percent, seasonally adjusted, for the 3-month period ending in September 2026. Wages and salaries increased 0.6 percent, and benefit costs increased 0.7 percent from June 2026. (See tables A, 1, 2, and 3.)

Compensation costs for state and local government workers increased 3.5 percent, not seasonally adjusted, for the 12-month period ending in September 2026. Wages and salaries increased 3.2 percent, and benefit costs increased 3.8 percent over the year. Inflation-adjusted (constant dollar) wages and salaries decreased 0.5 percent over the year. (See tables A, 7, 11, and 12.)

The Employment Cost Index news release for December 2026 is scheduled to be published on Friday, January 29, 2027, at 8:30 a.m. (ET).

Updated Fixed Employment Weights

Beginning with the publication of Employment Cost Index (ECI) data for December 2026, the ECI will introduce updated employment weights and remove workers’ compensation costs. For more information, see www.bls.gov/eci/notices/2026/eci-2025-fixed-weights-and-removing-workers-compensation.htm.

Source: U.S. Bureau of Labor Statistics · Original release Oct 30, 2026.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read compensation costs separately from job growth

The Employment Cost Index tracks changes in employers’ hourly compensation costs, including wages, salaries and benefits. Its fixed employment weights limit the effect of shifts between industries and occupations; it does not count newly created jobs. Compare wage and benefit components, and check whether the quoted change is for three months or twelve months and whether it is seasonally adjusted. Compensation trends are one part of the inflation and policy picture, without determining a particular mortgage rate. BLS Employment Cost Index.

Nearest published observation on or before each target date
Benchmark30 days earlierSep 30, 2026Publication referenceOct 30, 202630 days laterNov 29, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®7.03%Observed 7.24%Observed +21 bps vs. earlier referenceUnavailableWindow ends Nov 29, 2026.
10-year TreasuryDaily par yieldU.S. Department of the Treasury5.29%Observed 4.94%Observed −35 bps vs. earlier referenceUnavailableWindow ends Nov 29, 2026.

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

The following 30-day window ends Nov 29, 2026. A completed-window comparison will appear when that date has passed and the source history covers it.

Six months around publication

Jul 30, 2026 – Jan 30, 2027
Historical mortgage and Treasury observations around Oct 30, 2026Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.4.50%6.00%7.50%Publication date30-year fixed mortgage: 6.66% · Jul 30, 202630-year fixed mortgage: 6.69% · Aug 6, 202630-year fixed mortgage: 6.67% · Aug 13, 202630-year fixed mortgage: 6.65% · Aug 20, 202630-year fixed mortgage: 6.66% · Aug 27, 202630-year fixed mortgage: 6.71% · Sep 3, 202630-year fixed mortgage: 6.76% · Sep 10, 202630-year fixed mortgage: 6.95% · Sep 17, 202630-year fixed mortgage: 7.03% · Sep 24, 202630-year fixed mortgage: 7.28% · Oct 1, 202630-year fixed mortgage: 7.40% · Oct 8, 202630-year fixed mortgage: 7.40% · Oct 15, 202630-year fixed mortgage: 7.32% · Oct 22, 202630-year fixed mortgage: 7.24% · Oct 29, 202630-year fixed mortgage: 7.18% · Nov 5, 202610-year Treasury: 4.68% · Jul 30, 202610-year Treasury: 4.75% · Jul 31, 202610-year Treasury: 4.70% · Aug 3, 202610-year Treasury: 4.63% · Aug 4, 202610-year Treasury: 4.63% · Aug 5, 202610-year Treasury: 4.69% · Aug 6, 202610-year Treasury: 4.65% · Aug 7, 202610-year Treasury: 4.72% · Aug 10, 202610-year Treasury: 4.70% · Aug 11, 202610-year Treasury: 4.68% · Aug 12, 202610-year Treasury: 4.63% · Aug 13, 202610-year Treasury: 4.68% · Aug 14, 202610-year Treasury: 4.72% · Aug 17, 202610-year Treasury: 4.71% · Aug 18, 202610-year Treasury: 4.65% · Aug 19, 202610-year Treasury: 4.69% · Aug 20, 202610-year Treasury: 4.74% · Aug 21, 202610-year Treasury: 4.70% · Aug 24, 202610-year Treasury: 4.64% · Aug 25, 202610-year Treasury: 4.66% · Aug 26, 202610-year Treasury: 4.67% · Aug 27, 202610-year Treasury: 4.73% · Aug 28, 202610-year Treasury: 4.75% · Aug 31, 202610-year Treasury: 4.79% · Sep 1, 202610-year Treasury: 4.79% · Sep 2, 202610-year Treasury: 4.77% · Sep 3, 202610-year Treasury: 4.78% · Sep 4, 202610-year Treasury: 4.80% · Sep 8, 202610-year Treasury: 4.83% · Sep 9, 202610-year Treasury: 4.95% · Sep 10, 202610-year Treasury: 4.96% · Sep 11, 202610-year Treasury: 4.97% · Sep 14, 202610-year Treasury: 5.00% · Sep 15, 202610-year Treasury: 5.01% · Sep 16, 202610-year Treasury: 4.94% · Sep 17, 202610-year Treasury: 5.01% · Sep 18, 202610-year Treasury: 4.96% · Sep 21, 202610-year Treasury: 4.96% · Sep 22, 202610-year Treasury: 5.11% · Sep 23, 202610-year Treasury: 5.18% · Sep 24, 202610-year Treasury: 5.17% · Sep 25, 202610-year Treasury: 5.24% · Sep 28, 202610-year Treasury: 5.26% · Sep 29, 202610-year Treasury: 5.29% · Sep 30, 202610-year Treasury: 5.24% · Oct 1, 202610-year Treasury: 5.28% · Oct 2, 202610-year Treasury: 5.31% · Oct 5, 202610-year Treasury: 5.27% · Oct 6, 202610-year Treasury: 5.28% · Oct 7, 202610-year Treasury: 5.22% · Oct 8, 202610-year Treasury: 5.24% · Oct 9, 202610-year Treasury: 5.21% · Oct 13, 202610-year Treasury: 5.19% · Oct 14, 202610-year Treasury: 5.10% · Oct 15, 202610-year Treasury: 5.09% · Oct 16, 202610-year Treasury: 5.15% · Oct 19, 202610-year Treasury: 5.12% · Oct 20, 202610-year Treasury: 5.13% · Oct 21, 202610-year Treasury: 4.96% · Oct 22, 202610-year Treasury: 5.00% · Oct 23, 202610-year Treasury: 5.00% · Oct 26, 202610-year Treasury: 4.99% · Oct 27, 202610-year Treasury: 5.05% · Oct 28, 202610-year Treasury: 4.98% · Oct 29, 202610-year Treasury: 4.94% · Oct 30, 202610-year Treasury: 4.91% · Nov 2, 202610-year Treasury: 4.95% · Nov 3, 202610-year Treasury: 4.90% · Nov 4, 202610-year Treasury: 4.84% · Nov 5, 202610-year Treasury: 4.86% · Nov 6, 202610-year Treasury: 4.88% · Nov 9, 202610-year Treasury: 4.98% · Nov 10, 2026Jul 30, 2026Oct 30, 2026Jan 30, 2027
30-year fixed mortgage15 observations10-year Treasury72 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The future portion of the window has no observations. The series have different publication schedules and measure different markets.
Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

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