| The KUIK Market Update for Thursday, January 29: | |||||||
| Markets are down slightly. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Down | (2) | points | 17,189 | 8:01 AM | ||
| S&P500 | Down | -0.4% | percent | 1,994 | (7.76) | ||
| Nasdaq Composite | Down | -0.4% | percent | 4,618 | (19.70) | ||
| 30 Year Treasury | Up | 2 | Basis Points | 2.31 | Annual Yield | ||
| The Labor Department reports initial claims for unemployment benefits fell to 265,000 in the week ended January 24 down from a revised 308,000. That was the biggest drop since November 2012 and larger than the 296,000 expected by economists. It was also the lowest number since April 2000. Continuing claims fell by 71,000 to 2.39 million in the week ended January 17. | |||||||
| Freddie Mac reports 30-year fixed rate mortgage averaged 3.66% in the week ended January 29, up from 3.63% last week . A year ago, the 30-year averaged 4.32%. The 15-year fixed-rate averaged 2.98%, up from 2.93%. | |||||||
| The National Association of Realters predicts existing home sales will climb 6.6% this year to 5.26 million, which would mark the highest total since 2006. The national median existing-home price for all of this year is expected to increase between 4% and 5%. In 2014, existing-home sales declined 3.1% but prices rose 5.8%. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/jobless-claims-drop-to-14-year-low-2015-01-29 | |||||||
| http://www.marketwatch.com/story/30-year-fixed-rate-mortgage-edges-up-to-366-freddie-mac-2015-01-29 | |||||||
| http://www.marketwatch.com/story/real-estate-trade-group-expects-2015-home-sales-to-hit-nine-year-high-2015-01-29 | |||||||
| For today’s Market Update Report click to listen-> | |||||||