The Labor Department reports new applications for unemployment benefits fell by 11,000 to 254,000 last week. Economists expected a seasonally adjusted 260,000. New claims have been under 300,000 for 88 straight weeks. That last occurred in 1970. Continuing claims increased by 18,000 to 2.04 million in the week ended Oct. 29.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.57% this week, up from last week’s 3.54%. A year ago at it was 3.98%. 15-year fixed week averaged 2.88% up from 2.84%. A year ago it was 3.20%.
Marketwatch reports House Republican staffers are already writing the major tax-code overhaul they plan to advance during the first 100 days of the Trump administration. It’s at the top of the party’s agenda for 2017, says Rep. Kevin Brady (R., Texas), chairman of the House Ways and Means Committee. Staffers are already writing the parts that have consensus and gathering feedback from businesses and other groups on the blueprint the party released earlier this year.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
