Weekly Unemployment Claims (every Thursday)
Tomorrow’s only economic data worth watching is the weekly unemployment update at 8:30 AM ET. It is expected to show 225,000 new claims for benefits were filed during the week, up modestly from the previous week’s 222,000. Rising claims is good news for bonds because it is a sign of employment sector weakness. In other words, the higher the number of new filings, the better the news it is for mortgage rates. However, since this is only a weekly snapshot of the sector, it will take a wide variance from forecasts to have a noticeable impact on mortgage pricing.