The Labor Department reports new applications for unemployment benefits climbed by 22,000 to 259,000 last week. Economists expected a seasonally adjusted 250,000. Continuing claims rose by 41,000 to 2.1 million in the week ended Jan 14.
President Trump’s border wall plan has blown up into a showdown with Mexican President Enrique Pena Nieto just days before the Mexican leader and Trump are scheduled to meet in Washington. Trump today blasted Pena Nieto for saying Mexico would refuse to pay for the wall, tweeting that trade has been a “one-sided deal” for Mexico’s benefit and that “If Mexico is unwilling to pay for the badly needed wall, then it would be better to cancel the upcoming meeting.” Mexico’s peso fell 0.6% after the tweet.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 4.19% this week, up from last week’s 4.09%. A year ago it was 3.79%. The 15-year fixed averaged 3.40% up from 3.34%. A year it was 3.07%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
