October 24, 2014

MBS MID-DAY: Another Day, Another Melt-Down Snowball Rally

* Claims +383k vs 370k consensus
* 4wk moving ave rises to 374.5k from 370.75k
* Benefit exhaustion leads to fall in continuing claims, lowest since July 2008,

In the week ending May 26, the advance figure for seasonally adjusted initial claims was 383,000, an increase of 10,000 from the previous week’s revised figure of 373,000. The 4-week moving average was 374,500, an increase of 3,750 from the previous week’s revised average of 370,750.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 19, unchanged from the prior week’s unrevised rate.

The advance number for seasonally adjusted insured unemployment during the week ending May 19 was 3,242,000, a decrease of 36,000 from the preceding week’s revised level of 3,278,000. The 4-week moving average was 3,263,750, a decrease of 12,000 from the preceding week’s revised average of 3,275,750.

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/261365.aspx