The Labor Department reported initial jobless claims rose by 1,000 to 234,000 last week. Continuing claims rose by 24,000 to 1.92 million. They’ve been under 2 million for six straight weeks.
Freddie Mac reports mortgage rates have hit their lows of 2017. the 30-year fixed-rate mortgage averaged 3.95% this week, down from last week’s 4.02%. A year ago it was averaged 3.64%. The 15-year fixed was 3.19%, down from 3.27%. A year ago it was 2.89%.
Federal Reserve Governor Lael Brainard said there is now less risk to the U.S. economy due to a healthier global economy. The euro-area is growing more solidly, she noted. Growth has stabilized in Japan, and emerging markets are also doing better. She said there is likely to be a sustained upward revision to foreign growth for the first time in about three years.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
