The Labor Department reports intial claims for unemployment benefits fell by 2,000 to 238,000 ithe week ended November 25, but that included the Thanksgiving holiday. Continuing claims increased by 42,000 to 1.96 million the week before.
The Commerce Department reports consumer spending rose 0.3% in October. Economists expected 0.2%. That follows a nearly 1% gain in September month that was the largest in eight years. Personal income rose 0.4% for the second month in a row while the savings rate edged up to 3.2% from September’s 3%. That was a 10-year low.
Freddie Mac reports mortgage rates fell. The 30-year fixed-rate mortgage averaged 3.90% this week, down from last week’s 3.92%. A year ago at it was 4.08%. The 15-year fixed averaged 3.30% down from 3.32%. A year ago it was 3.34%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
