Weekly Jobless Claims Expected to Drop

By: KAKE News Email
By: KAKE News Email

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The Labor Department is expected to report new claims for unemployment benefits dropped last week but remained near a 26-year high.

A Thomson Reuters survey of Wall Street economists found they
expect jobless benefit claims dropped by 15,000 to a seasonally
adjusted level of 558,000.

The economists also said the Conference Board's index of leading
economic indicators, out today, is expected to fall 0.5 percent.
The index posted a 0.8 percent decline in October.

The index is designed to forecast economic activity in the next
three to six months based on 10 economic components, including
stock prices and unemployment benefits claims.

Meanwhile, following the Fed's rate extraordinary cut,
homeowners are scrambling to refinance their mortgages at the
lowest rates since the early 1960s.

Freddie Mac releases its weekly survey of mortgage rates Thursday.

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