Jobless Claims Rise

The economy continues to struggle toward recovery with the latest jobless claims numbers in today. Initial claims rose more than expected today, belying yesterday’s Fed statement. However, the news isn’t all bad. MarketWatch reports on the silver lining associated with the latest jobs numbers:

Ian Pollick, economist at TD Securities, said that the rise in jobless claims was unsettling but that he was comforted by the fact that claims remain below the 500,000 mark.

Despite the increase, analysts said that claims remain on a downward trend.

So it appears that things, in general, are moving in an overall positive direction for the economy. As a result, then, it is little surprise that mortgage interest rates continue to inch upward.