Morning Minute: Jobless claims drop, mortgage rates rise

The Labor Department reports that jobless claims fell by 4,000 filings for the week ending May 4, marking the third straight week of declines in initial claims, HousingWire reports in today’s article, “Jobless claims fall again.”

And more positive jobs news is triggering a rise in mortgage rates for the first time in six weeks. According to Freddie Mac’s latest release, the average 30-year, fixed-rate mortgage was 3.42 percent, up from 3.35 percent last week. The 15-year rate was 2.61 percent, up from 2.56 percent last week. Read more in today’s Chicago Tribune.

More news headlines:

Program to Help Struggling Homeowners Coming to Peoria - WMBD-TV

Fannie Mae profit soars, posts largest pre-tax quarterly income to-date – HousingWire

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.