Weekly Unemployment Claims (every Thursday)
The second piece of data was last week’s unemployment figures, also at 8:30 AM ET. They showed that 261,000 new claims for unemployment benefits were filed last week, down slightly from the previous week’s 262,000 initial filings. Analysts were calling for 265,000 initial claims, so the 261,000 is considered bad news for bonds as declining claims is a sign of a strengthening employment sector. Fortunately though, this is only a weekly snapshot so it has had little influence on this morning’s mortgage rates.