The Labor Department reports new applications for unemployment benefits last week fell by 12,000 to 234,000. Economists expected a seasonally adjusted 249,000. Continuing claims rose by 15,000 to 2.08 million in the week ended Jan 28.
Marketwatch reports the Trump administration is considering executive action to suspend the conflict-minerals rule. The rule requires companies to disclose any tin, tantalum, tungsten or gold from the Democratic Republic of the Congo in their supply chains. The minerals are used in everyhting from iPhones to engagement rings. Human-rights groups say the rule led companies to buy fewer materials connected to militia groups but business groups have fought it in court, saying its requirements are costly and burdensome.
Freddie Mac reports the 30-year fixed-rate mortgage this week averaged 4.17%, down from last week’s 4.19%. A year ago it was 3.65%. The 15-year fixed averaged 3.39% down form 3.41%. A year ago it was 2.95%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
