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Market Matters – September 10 , 2021 Edition


 

 

Initial Jobless Claims
Initial Jobless Claims declined by -35k to 310k for the week ending September 3rd vs. the prior week’s revised count of 345k (orig. 340k). Claims are now at their lowest level since the March 14, 2020 week, with the latest 4-week moving average at 339.5k, down from a prior 356.3k. Continuing claims, which lag by a week, were down -22k to 2.783mln from the prior week’s revised count of 2.805mln (orig. 2.748mln).
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JOLTS Report

The JOLTS report for July showed the number of job openings increased to 10.9mln according to the BLS. Hires and total separations were mostly unchanged at 6.7mln and 5.8mln, respectively. Within separations, the quits rate was unchanged at 2.7%, while the layoffs and discharges rate was also little changed at 1.0%. Over the 12 months ending in July, hires totaled 72.6mln and separations totaled 65.6mln, resulting in a net employment gain of 7mln. Again, these totals do include those workers who may have been hired and separated more than one time during the year.

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Employment Trends Index
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Weekly Mortgage Applications

 


 


We feel neutral on the market as the 10-year is at 1.295%. We have resistance at 1.21%, while we have support at 1.32%, then at 1.37%. It isn’t a bad idea to take any rallies as an opportunity to get some loans locked in.

 

 

Pam Jamison
Loan Originator
NMLS# 277012
8310-1 N. Capital of Texas Highway, Suite 195, Austin, TX 78731
512-775-1001 | 512-582-8778
pam.jamison@primelending.com | 
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