The Labor Department reports new applications for unemployment benefits last week rose by 20,000 to 243,000. Economists expected 238,000. Continuing claims fell by 6,000 to 2.06 million in the week ended Feb. 25.
The American Society of Civil Engineers in a report released today ave given the country’s bridges, roads, airports and other facilities a D+, the same grade as four years ago. They call for $4.6 trillion in investments in infrastructure in the next decade, but estimate a $2 trillion dollar shortfall. They say if the nation “fails to invest, (it) will face serious economic consequences, including $3.9 trillion in losses to U.S. GDP and more than 2.5 million American jobs lost in 2025.”
Freddie Mac reports mortgage rates have hit a high for 2017 with the 30-year fixed-rate mortgage averaging 4.21% this week, up from last week’s 4.10%. A year ago it was 3.68%. The 15-year fixed averaged 3.42%up from 3.32%. A year ago it was 2.96%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
