Last week's economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac's mortgage rates survey and new jobless claims were also released.
Last week's economic news included reports on inflation, retail sales and weekly readings on mortgage rates and weekly jobless claims.
New jobless claims were decreased to a three-month low of 254,000 as compared to expectations of 265,000 new claims and the prior week's reading of 270,000 new claims. New jobless claims were higher after the end of the school year, when some school workers became eligible for benefits when schools closed for summer break.
Mortgage rates fell after Federal Reserve policymakers decided not to raise the Fed's target federal funds rate. The Federal Open Market Committee cited ongoing concerns over global financial and economic developments and slow jobs growth as factors in its decision not to raise rates. Fed Chair Janet Yellen emphasized the committee's decision-making process is not predetermined and said that ongoing review of current and developing news is significant to monetary policy decisions.
Last week's economic news included reports on retail sales and consumer sentiment along with weekly releases on new jobless claims and mortgage rates.
Last week's scheduled economic news included releases from the National Association of Home Builders, Housing Starts, and Existing Home Sales. Weekly reports on new jobless claims and mortgage rates were also released.
The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released.
Last week's scheduled economic reports included the NAHB Housing Market Index, Housing Starts, FOMC statement and Fed Chair Janet Yellen's press conference. In addition to weekly reports on jobless claims and mortgage rates, inflation reports were also released.
Multiple economic reports released last week indicate further improvement in economic conditions. Pending home sales, construction spending and ADP payrolls increased while Non-farm Payrolls fell and the national unemployment rate held steady.