Tomorrow brings us the weekly unemployment update from the Labor Department. Expected announcment of 351,000 new claims for unemployment benefits. This brings little change from the previous week’s total of 352,000. A decline in new claims reflects a strengthening employment sector, which can be bad news for mortgage rates. On a flip side an increase in claims would hint a softening employment sector which would benifit rates. However, this report tracks only a single week’s worth of initial claims, which will most likely not affect mortgage rates at all.
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