9/29: METROINTELLIGENCE ECONOMIC UPDATE by P.DUFFY

Bloomberg Consumer Comfort Index rises for first time in a month
Americans’ confidence rose for the first time in four weeks as households grew more upbeat about their finances amid higher stock prices, with the index rising from 50.6 to 51.6.
2Q 2017 GDP growth at 3.1 percent in third and final estimate
Real gross domestic product (GDP) increased at an annual rate of 3.1 percent in the second quarter of 2017, according to the third and final estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent.
Mortgage applications dip 0.5 percent in latest survey as rates rise 7 basis points
The Market Composite Index decreased 0.5 percent on a seasonally adjusted basis from one week earlier, with purchase loans up 3 percent and refinancing down 4 percent. The average contract interest rate for 30-year fixed-rate mortgages increased to 4.11 percent from 4.04 percent.
Initial unemployment claims rise by 12,000 in latest report, impacted by hurricanes
In the week ending September 23, initial unemployment claims were 272,000, an increase of 12,000 from the previous week’s revised level. The 4-week moving average was 277,750, an increase of 9,000 from the previous week’s unrevised average of 268,750. This is the highest level for this average since February 6, 2016 when it was 277,750.

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