• The advance figure for initial claims for unemployment insurance increased 135 thousand to 1,106 thousand in the week ending August 15. The 4-week moving average was 1,175.75 thousand, a decrease of 79 thousand from the previous week’s revised average. The advance number for seasonally adjusted insured unemployment (ongoing) during the week ending August 8 was 14,844 thousand, a decrease of 636 thousand from the previous week’s revised level. The 4-week moving average was 15,841.25 thousand, a decrease of 326.75 thousand from the previous week’s revised average. The advance seasonally adjusted insured unemployment rate was 10.2% for the week ending August 8, a decrease of 0.4 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.”
  • Unemployment rates were lower in July in 30 states, higher in 9 states, and stable in 11 states and the District of Columbia, according to the U.S. Bureau of Labor Statistics. All 50 states and the District had jobless rate increases from a year earlier. Nonfarm payroll employment increased in 40 states and the District of Columbia, decreased in 1 state, and was essentially unchanged in 9 states in July 2020. Over the year, nonfarm payroll employment decreased in 49 states and the District and was essentially unchanged in 1 state.
  • The results of Freddie Mac’s Primary Mortgage Market Survey of August 20th showed average fixed mortgage rates inched up. 30-year fixed-rate mortgage averaged 2.99% for the week ending August 20, up from last week when it averaged 2.96%. A year ago, the 30-year fixed-rate mortgage averaged 3.55%. 15-year fixed-rate mortgage averaged 2.54%, up from last week when it averaged 2.46%. %. A year ago, the 15-year fixed-rate mortgage averaged 3.03%.
  • Mortgage applications decreased 3.3% from a week earlier, according to data from Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending August 14th.

 

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