Updated on August 13, 2020 10:39:36 AM EDT
This morning’s only relevant economic data was last week’s unemployment figures that showed 963,000 new claims for benefits were filed. This was lower than expected, a decline from the previous week and broke a streak of 20 consecutive weeks of over 1 million new filings. While the decline indicates the employment sector improved slightly last week, the high number also means the sector is still struggling. However, since the number was below forecasts we need to consider the data bad news for mortgage rates.