Weekly Economic Update

First-time initial jobless claims fell by over 30,000 last week, which is a very positive sign that hiring may finally be picking up steam.

The minutes from the Fed’s last committee meeting were also released, and confirm that they plan to continue tapering their bond purchases. This is the program that has helped keep mortgage rates at or near historic lows in an effort to stimulate the economy.

Bottom Line for Mortgages:

Rates improved all last week and remain near historic lows. 

Tax Day Trivia:  The IRS employs 114,000 people; that’s twice as many as the CIA and five times more than the FBI.

 

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