U.S. mortgage rates are starting the new week near 7% after higher Treasury yields and a stronger-than-expected August jobs report increased uncertainty about the Federal Reserve’s next move. With U.S. fixed-income markets closed Monday, Sept. 7, for Labor Day, the latest broad readings were published before the holiday weekend. Mortgage News Daily’s top-tier 30-year fixed rate averaged 6.89% on Friday, Sept. 4, up one basis point from Thursday and near Wednesday’s 6.91%; its 15-year rate was 6.49% and its jumbo rate was 7.06%. Freddie Mac reported a 30-year average of 6.71% as of Sept. 3, compared with 6.66% a week earlier and 6.50% a year earlier, while the Mortgage Bankers Association reported a 6.79% contract rate. The 10-year Treasury yield finished Friday near 4.79%, maintaining pressure on mortgage pricing. Employers added 162,000 jobs in August and unemployment held at 4.1%, contributing to expectations of a possible Federal Reserve rate increase at the Sept. 15-16 meeting. Futures priced about a 57% chance of a September hike after Friday’s trading. Inflation data due Sept. 10 and Sept. 11 may determine whether Treasury yields and mortgage rates ease or move more firmly toward 7%.