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THE ECONOMY.(TO THE POINT)
Jobless claims at pre-storm level
New filings for unemployment benefits fell 17,000 to 320,000 in the week ended Nov. 26. That was near Wall St. forecasts and showed the labor market has returned to stable hiring levels. The 4-week average slid to 322,500, little changed in the past few weeks. The unemployment rate is seen remaining at 5% in Friday's Nov. employment report.
Sept. home prices up 12% vs. '04
That's the national average. The Office of Federal Housing Enterprise Oversight said prices are rising less quickly in some hot markets. The Pacific and New England states saw the most slowing. Compared with Q2, the U.S. average home price was up 2.86% in Q3. The largest home price gains by state were in Arizona, where prices are up 30% year over year.
Mortgage rates slip a bit in week
Freddie Mac said average 30-year rates fell to 6.26% from 6.28% the week before. The 15-year rate was flat at 5.81%. Officials said rates will be in a "holding pattern" until markets decide which way inflation and growth in the economy are headed.
** Bank ...
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