Weekly Unemployment Claims (every Thursday)
Last week’s unemployment figures showed that 216,000 new claims for unemployment benefits were filed, down from the previous week’s 222,000 initial filings. A decline in claims is a sign of a strengthening employment sector, so we should consider the data bad news for bonds and mortgage rates. Fortunately, this report is only a weekly snapshot and doesn’t carry too much weight in the markets. That is why we haven’t seen a reaction in this morning’s mortgage rates.