Consumer credit rose again in October, albeit at a slower pace from previous months
Consumer credit increased by USD16.0 billion in October, a slowdown from the pace of the previous few months. Still, consumer credit is near record highs when viewed as a share of disposable personal income.
Job openings dipped slightly in OctoberThe number of job openings dipped slightly to 5.5 million on the last business day of October, as did hires and separations, which fell to 5.1 million and 4.9 million, respectively.
Mortgage loan applications fall 0.7 percent as rates rise to highest level since October 2014
The Market Composite Index decreased 0.7 percent on a seasonally adjusted basis from one week earlier, with purchase loans falling 0.4 percent and refinances falling 1 percent. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to its highest level since October 2014, 4.27 percent.
Initial unemployment claims fall by 10,000 in latest report
In the week ending December 3, initial unemployment claims were 258,000, a decrease of 10,000 from the previous week’s unrevised level of 268,000. The 4-week moving average was 252,500, an increase of 1,000 from the previous week’s unrevised average of 251,500.