New US Initial Jobless Claims on the Rise
New claims for unemployment benefits in the US rose by 30,000 to 608,000 for the week ended June 13, but the total number of people receiving unemployment benefits fell by 148,000 to 6.69 million. More
US Mortgage Applications Decline as Rates Rise
The US Mortgage Bankers Association said today that new mortgage applications declined in May for the fourth straight month. The association is blaming rising interest rates that have seen rates on a 30-year fixed-rate mortgage climb to an average of 5.50 percent from a low of 4.61 percent in late March. More
Inflation in Canada Drops to 0.1%
Annual inflation in Canada dropped to 0.1 percent in May but core inflation – which excludes volatile sectors including energy – was actually equal to the Bank of Canada’s target rate of 2 percent. More
Bill to Overhaul US Financial Oversight to Be Fast-Tracked
Democrats leaders have agreed to fast-track President Obama’s proposals to give the Federal Reserve more authority to oversee and regulate US financial institutions. More
