Fewer Americans filed for unemployment than anticipated last week with Jobless Claims at 265K vs. 262K prior (consensus 278K). This is the ninth straight week that the claims data has posted below 300K. Last week was the lowest claims level since April 15th, 2000 and this week is a close second at only +3K higher. The four week average for Jobless Claims fell to 279,500 from 283,750, the lowest level since May 2000. Continuing Claims fell by -28K to 2.228 MM from 2.256 MM in the week prior. The Claims data continues to suggest labor market tightening and improved prospects for unemployment. Tomorrow we get Nonfarm Payrolls. Treasury yields rose slightly on the claims news, and are just below yesterday’s close levels.
This information is provided solely for informational use and is not intended as trading or investment advice in any manner whatsoever. Sun West Mortgage Company, Inc. is not a licensed or registered broker or dealer and cannot provide investment strategies or recommendations. This information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice