Weekly Unemployment Claims (every Thursday)
Tomorrow has three pieces of economic data for the markets to digest. They begin with last week’s unemployment update at 8:30 AM ET. Analysts are expecting to see 300,000 new claims for benefits were filed, up from the previous week’s 293,000 initial filings. Rising claims are a sign of a weakening employment sector. That means the higher the number of new claims, the better the news it is for mortgage rates. Although, because this is only a weekly snapshot, we shouldn’t expect it to have a noticeable impact on rates unless it shows a significant variance from forecasts.