The Labor Department reports new applications for unemployment benefits last week fell by 15,000 to 234, 000. Economists expected 245,000. Initial claims have been under 300,000 for 98 straight weeks. Continuing claims fell by 47,000 to 2.046 million the week ended January 7.
The Commerce Department reports housing starts rose by 11.3% to a seasonally adjusted annual rate of 1.23 million in December. That matched expecations and is flat compared to a year ago. Single-family starts fell 4.0% to a 795,000 pace in December – but that was 3.9% higher than a year ago.
Freddie Mac reports mortgage rates are lower for the third consecutive week. the 30-year fixed-rate mortgage averaged 4.09% this week, down from last week’s 4.12%. A year ago it averaged 3.81%. The 15-year fixed was 3.34%, down from 3.37%. A year ago it was 3.10%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
