The Labor Department reports initial claims for unemployment benefits fell by 12,000 to 260,000 the week ended September 30. Economists expected 265,000. Continuing claims, fell slightly to 1.94 million.
he U.S. trade deficit dropped 2.7% in August to $42.4 billion from $43.6 billion in July. Economists expected $42.6 billion. The trade deficit shrank mainly because of higher U.S. exports of drugs, semiconductors, and phone netework equipment. Imports were unchanged. Imports from China set a fresh record at $45.8 billion. The goods deficit with Vietnam was the highest ever at $3.6 billion.
Freddie Mac reports mortgage rates rose slightly this week. The 30-year fixed-rate mortgage averaged 3.85% up from last week’s 3.83%. A year ago it was 3.42%. The 15-year fixed averaged 3.15% up from 3.13%. A year ago it was 2.72%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
