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Jobless Claims Up By 10,000 In Week

WASHINGTON (UPI) — First-time jobless claims rose by 10,000 in the week ended Saturday, the U.S. Labor Department said. Initial claims for unemployment benefits rose to 383,000, climbing above the previous week’s revised estimate of 373,000. The four-week rolling average, which gives a steadier indication of the direction of jobless claims rose by 3,750 to […]

Long-Term Mortgage Rates At Record Lows

WASHINGTON (UPI) — Average mortgage rates for 30-year, fixed-rate loans fell to record lows for the fifth consecutive week, the Federal Home Loan Mortgage Corp. said Thursday. Average rates for 30-year contracts dropped from 3.78 percent to 3.75 percent with 0.8 points, a record low. Thirty-year mortgage rates averaged 4.55 percent the same week of […]

Layoff Announcements Jumped In May

CHICAGO (UPI) — U.S. employers announced a reduction of 61,887 jobs in May, the most since September, a private research group said. Total job cuts announced for the month were up 53 percent from the previous month’s total of 40,559 announced job cuts, outplacement consultancy Challenger, Gray & Christmas said Thursday. The month’s total is […]

Mortgage Activity Down — Rates, Too

WASHINGTON (UPI) — The Mortgage Bankers Association said U.S. mortgage activity fell 1.3 percent in the week ended Friday with interest rates setting record lows. The trade group’s Refinancing Index also fell slightly, declining by 1.5 percent, the MBA said. Interest rates for 30-year, fixed-rate conforming mortgages fell from 3.93 percent to 3.91 percent with […]

Retail Sales Mirror Confidence And Drop

WASHINGTON (UPI) — U.S. retail sales receipts fell 0.5 percent in the week ending Saturday, the fifth consecutive weekly decline, a national trade group said. The International Council of Shopping Centers in Washington said sales dropped week-to-week, but rose 2.9 percent compared to the same week a year earlier. The trade group said the five-week […]

Pending Home Sales Show Market Momentum

WASHINGTON (UPI) — The Pending Home Sales Index fell month-to-month in April, but rose from April 2011, the National Association of Realtors said Wednesday. The index slipped from March’s downwardly revised 101.1 to April’s 95.5, off 5.5 percent. From April 2011, however, the index posted “strong” gains, NAR said, climbing 14.4 percent from 83.5 a […]

EC Pushes For Region-Wide Bank Union

BRUSSELS (UPI) — The European Commission on Wednesday proposed creation of a common backstop for banking problems, including joint protection of deposits. In calling for a region-wide “banking union,” EC President Jose Manuel Barroso said, “For full confidence in the future of the euro area, it is important that member states agree to launch a […]

Gorman Stands By Facebook's IPO

NEW YORK (UPI) — Morgan Stanley Chairman and Chief Executive Officer James Gorman said the U.S. bank followed the rules during Facebook’s initial public stock offering. Gorman said in a webcast message to Morgan Stanley employees “speculation of nefarious activity” concerning Facebook’s debut as a public company was not true, The Wall Street Journal reported […]

Consumer Confidence Slid In May

NEW YORK (UPI) — Consumer confidence in the United States dropped for the second consecutive month in May, the Conference Board said Tuesday. The index that assigns 1985 a base value of 100 fell from 68.7 to 64.9, the Conference Board said. The monthly Consumer Confidence Index is based on a survey of 5,000 households. […]

Home Prices Retreat In 8 Of 20 Cities

NEW YORK (UPI) — U.S. home prices fell in eight of 20 cities in the closely-watched monthly Standard & Poor’s/Case-Shiller report in March, the firm said. A month earlier, in February, prices fell in 16 of 20 cities. The index for March shows declines in half that number, a silver lining in a report that […]

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