The bottom line

■ The average rate on a 30-year mortgage rose to 6.75 percent in the last week of September, the highest number in 16 years. Rates rose 1.3 percent in just seven weeks, the fastest advance since 2003.

Bloomberg

■ Fraud and scam claims on the bank-owned payment network Zelle are on pace to exceed $255 million this year, up from $90 million in 2020, according to a report by Sen. Elizabeth Warren (D-Mass.). Banks reimbursed only 47 percent of the money that clients claimed was taken without their authorization in 2021 and the first half of 2022.

The New York Times

■ Google will pay $85 million to the state of Arizona to settle charges that it violated the Arizona Consumer Fraud Act by continuing to track users who had turned off their location history feature.

Axios

■ Canned water start-up Liquid Death this week raised $70 million in funding. CEO Mike Cessario said that part of the company’s success can be attributed to its uniquely stylized cans, which make the water look “fun and unhealthy like beer or an energy drink.”

Bloomberg

■ The Labor Department said this week that total job openings fell 10 percent in August to a seasonally adjusted 10.1 million from 11.2 million the month before, the largest monthly decline since early in the pandemic.

The Wall Street Journal

■ Micron announced it plans to spend as much as $100 billion over the next 20 years to build a huge computer chip factory complex in near Syracuse, N.Y. Construction on the plants, which may generate as many as 50,000 jobs, will begin in 2024.

The New York Times