The Labor Department reports new applications for unemployment benefits fell by by 3,000 to a seasonally adjusted 247,000 the week ended July 8. Continuing claims fell by 20,00 to 1,945,000 for the week before.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 4.03% this week, up from last week’s 3.96%. A year ago it was 3.42%. The 15-year fixed averaged 3.29% up from 3.22%. A year ago it was 2.72%.
Senate Republicans today will unveil their latest version of a bill to replace the Affordable Care Act, and the likely defections of two senators has left leaders no margin for error, according to the New York Times. Sen. Rand Paul of Kentucky said Wednesday he would not vote to take up the bill, which he said left too much of Obamacare in place. Maine Sen. Susan Collins says the bill cuts too much and that only major revisions could win her over. Republicans have 52 seats in the Senate and can afford to lose only two members on votes. Vice President Mike Pence would cast the tiebreaking vote if there is a 50-50 split.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
