- The advance figure for initial claims for unemployment insurance increased 109 thousand to 1,416 thousand in the week ending July 18. The 4-week moving average was 1,360.25 thousand, a decrease of 16.5 thousand from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment (ongoing) during the week ending July 11 was 16,197 thousand, a decrease of 1,107 thousand from the previous week’s revised level. The 4-week moving average was 17,505.25 thousand, a decrease of 758.5 thousand from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 11.1% for the week ending July 11, a decrease of 0.7 percentage point from the previous week’s revised rate. It was stated that: “The COVID-19 virus continues to impact the number of initial claims and insured unemployment. This report now includes information on claimants filing Pandemic Unemployment Assistance and Pandemic Emergency Unemployment Compensation claims.”
- The results of Freddie Mac’s Primary Mortgage Market Survey showed that mortgage rates rising for the first time in weeks. The 30-year fixed mortgage rate averaged 3.01% for the week ending July 23, up slightly from last week when it averaged 2.98%. A year-ago at this time, the 30-year fixed-rate averaged 3.75%. The 15-year fixed mortgage rate averaged 2.54%, up from last week when it averaged 2.48%. A year-ago at this time, the 15-year fixed-rate averaged 3.18%.
- Mortgage applications increased 4.1% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 17, 2020.
- The Conference Board index of leading economic indicators increased 2.0% in June, following an increase of 3.2% in the previous month. Over the six-month span through June, the leading index decreased 8.4% (about an 16.2% annual rate). The Conference Board coincident economic index increased 2.5% in June, following a 1.6% increase in the previous month. Over the six-month span through June, the coincident index decreased 9.8% (about a 18.6% annual rate).
- There were 15,537,513 COVID-19 confirmed cases in the world, 634,069 deaths, and 8,882,923 recovered, according to Johns Hopkins University, Coronavirus Resource Center (access date and time: 7/24/2020, 9:00 EST). In the United States, there are 4,039,523 confirmed cases, 144,308 deaths, and 1,233,269 recovered cases. The world is struggling to control the spread of the virus.
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