The Labor Department reports initial claims for unemployment benefits fell by 15,000 to 243,000 last week. That’s the lowest level in six weeks. Economists expected 250,000. Continuing claims fell by 32,000 to 1.89 million. That’s the lowest number since the end of 1973. Fewer Americans sought unemployment benefits as more people went back to work in Texas and Florida. Hurricanes Irma and Harvey temporarily prevented many people from working and claims are still unusually low in Puerto Rico after Hurricane Maria. The lack of electricity has prevented people from filing claims and the island from processing them. These claims could surge in the next few weeks.
Freddie Mac reports the 30-year fixed-rate mortgage averaged 3.91% this week, up from last week’s 3.85%. A year ago it was 3.47%. The 15-year fixed is 3.21% up from 3.15%. A year ago at it was 2.76%.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
