| The KUIK Market Update for Thursday, September 11: | |||||||
| Markets are down. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (64) | points | 17,004 | 8:00 AM | ||
| S&P500 | Down | -0.3% | percent | 1,989 | (6.33) | ||
| Nasdaq Composite | Down | -0.4% | percent | 4,568 | (18.77) | ||
| 30 Year Treasury | Down | (2) | Basis Points | 3.25 | Annual Yield | ||
| The Labor Department reports the number of new applications for jobless benefits rose 11,000 to 315,000 in the week that ended September 6, the highest level since late June. Economists expected 301,000. Continuing claims rose 9,000 to 2.49 million in the week that ended August 30. | |||||||
| The average rate for a 30-year fixed-rate mortgage rose to 4.12% in the week that ended September 11 up from last week’s 4.10%. That was the lowest rate since late October, according to Freddie Mac. A year ago, the 30-year rate was at 4.57%. The average rate for the 15-year fixed-rate mortgage rose to 3.26% up from 3.24% last week. | |||||||
| Foreclosure auctions are increasing reversing a years-long trend. According to RealtyTrac, more than 51,000 properties were scheduled for foreclosure auction in August, the first annual increase in scheduled foreclosures since the robo-signing controversy hit the mortgage industry in 2010. Scheduled foreclosure auctions increased in roughly half of all U.S. states, with Colorado (up 116%), Oregon (up 117%), leading the way. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/us-weekly-jobless-claims-rise-11000-to-315000-2014-09-11 | |||||||
| http://www.marketwatch.com/story/30-year-mortgage-rate-rises-to-412-2014-09-11-109106 | |||||||
| http://www.marketwatch.com/story/foreclosures-are-back-are-they-coming-to-your-city-2014-09-11?dist=lcountdown | |||||||
| For today’s Market Update Report click to listen-> | |||||||