| The KUIK Market Update for Thursday, June 5: | |||||||
| Markets are up. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Up | 29 | points | 16,767 | 8:05 AM | ||
| S&P500 | Up | 0.1% | percent | 1,930 | 2.27 | ||
| Nasdaq Composite | Up | 0.2% | percent | 4,260 | 8.11 | ||
| 30 Year Treasury | Down | (0) | Basis Points | 3.44 | Annual Yield | ||
| Initial jobless claims climbed by 8,000 to 312,000 in the week ended May 31, according to the Labor Department . Economists expected a seasonally adjusted 311,000. Continuing claims fell by 20,000 to 2.60 million in the week ended May 24. That’s the fewest since October 2007. | |||||||
| Home prices are improving. More than 3.5 million homes regained equity over the past year as residential prices rose, helping to narrow the number of underwater properties by almost half since late 2009, according to Corelogic. There were about 6.3 million homes with negative equity in the first quarter down from 9.8 million a year earlier and 12.2 million at the end of 2009. That means 12.7% of all mortgaged homes in the first quarter were negative, compared with 20.2% a year earlier and 26% at the end of 2009. | |||||||
| The average rate for a 30-year fixed-rate mortgage rose to 4.14% in the week ended today up from 4.12% last week, and that was the lowest rate since the end of October, according to Freddie Mac . A year ago, the 30-year rate was at 3.91%. The average rate for the 15-year fixed-rate mortgage increased to 3.23% up from from 3.21% last week. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/ecb-cuts-rates-installs-negative-deposit-rate-2014-06-05-7485590 | |||||||
| http://blogs.marketwatch.com/capitolreport/2014/06/05/number-of-underwater-homes-halved-since-2009/ | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-414-2014-06-05 | |||||||
| For today’s Market Update Report click to listen-> | |||||||