The Labor Department reports initial claims for unemployment benefits rose by 20,000 to 245,000 the week ended December 16. That was above the 230,000 expected by economists. Continuing claims, rose by 43,000 to 1.93 million the week before. The biggest job losses were in New York, Ohio, and Massachusetts.
Things are heating up in Philadelphia. The Philadelphia Fed’s Manufacturing Business Outlook Survey jumped to 26.2 in December up from November’s 22.7, beating the consensus forecast of a slight drop to 21.8. New ordersand shipments rose, while number of employees and workweek both fell.
Freddie Mac reports the 30-year fixed-rate mortgageaveraged 3.94% this week up from last week’s 3.93%. A year ago it was 4.30%. The 15-year averaged 3.38% up from 3.36%. A year ago it was 3.52%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
