Weekly Unemployment Claims (every Thursday)
We will not get to see December’s Housing Starts (new home groundbreakings) tomorrow because of the shutdown. But we will get last week’s unemployment figures at 8:30 AM ET. It is expected to show that 221,000 new claims for unemployment benefits were filed last week, up from 216,000 the previous week. Rising claims are a sign of a softening employment sector, meaning the higher the number of initial filings, the better the news it is for mortgage rates. This is only a weekly snapshot, so its impact on mortgage rates is usually minimal at best. However, with more reports being delayed, we could see a bit stronger reaction to these results than we usually do.