The Labor Department reports new claims for unemployment benefits rose by 10,000 to 233,000 the week ended October 21. That matched expectations. Continuing claims fell by 3,000 to 1.89 million. "The increases in claims in Texas and Florida because of Hurricanes Harvey and Irma appear to have largely run their course and claims are back to around where they were two months ago,” says Jim O’Sullvan, chief U.S. economist at High Frequency Economics.
Freddie Mac reports mortgage rates are up. The 30-year fixed-rate mortgage averaged 3.94% this week, up from last week’s 3.88%. A year ago it was 3.47%. The 15-year fixed averaged 3.25% up from 3.19%. A year ago it was 2.78%.
The Commerce Department’s Advanced Economic Indicators Report shows the U.S. trade deficit in goods grew 1.3% in September, to $64.1 billion from $63.3 billion. Both imports and exports rose but imports rose at a faster pace. in bad news for automakers, vehicle imports fell 2%, while exports fell 6%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
