July 21, 2016
4 MORE YEARS!:
Low mortgage rates help boost U.S. home resales to 9-year high (Reuters, 7/21/16)
U.S. home resales unexpectedly rose in June to their fastest pace in more than nine years as low mortgage interest rates drew buyers into the market, a positive sign for the economy.The National Association of Realtors said on Thursday existing home sales increased 1.1 percent to an annual rate of 5.57 million units last month, the highest level since February 2007. Economists polled by Reuters had forecast a 5.48 million-unit pace in June. Sales were up 3 percent from a year ago.
U.S. jobless claims hit three-month low (LUCIA MUTIKANI, 7/21/16, Reuters)
The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting a three-month low as the labor market continues to gather momentum.Initial claims for state unemployment benefits slipped 1,000 to a seasonally adjusted 253,000 for the week ended July 16, the lowest reading since April, the Labor Department said on Thursday. Claims for the prior week were unrevised.Claims are near the 43-year low of 248,000 touched in mid-April. Economists polled by Reuters had forecast initial claims rising to 265,000 in the latest week.
Posted by Orrin Judd at July 21, 2016 11:57 AM