• The advance figure for initial claims for unemployment insurance decreased 249 thousand to 1,186 thousand in the week ending August 1. The 4-week moving average was 1,337.75 thousand, a decrease of 31 thousand from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment (ongoing) during the week ending July 25 was 16,107 thousand, a decrease of 844 thousand from the previous week’s revised level. The 4-week moving average was 16,628.25 thousand, a decrease of 413.25 thousand from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 11.0% for the week ending July 25, a decrease of 0.6 percentage point from the previous week’s unrevised 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 average fixed mortgage rates dropped, hitting a record low for the eight time this year. The 30-year fixed mortgage rate averaged 2.88% for the week ending August 6, down from last week when it averaged 2.99%. A year ago, the 30-year fixed rate averaged 3.60%. The 15-year fixed mortgage rate averaged 2.44%, down from last week when it averaged 2.51%. A year ago, the 15-year fixed rate averaged 3.05%.

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