Jobless Claims fell a very surprising 19,000 last week to much lower-than-expected level of 284,000.
New home sales, which surged in May, rose 4 points in July and is at its best level since January.
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Despite mortgage rates that rose just slightly, mortgage applications for home purchases jumped 4% following a run of soft showings.
Pending Home Sales jumped a very strong 6.1%. All regions showed solid gains in this area, but were led by the Northeast, which has proven to be the strongest region for existing home sales.
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Demand for both purchase and refinancing applications increased significantly last week. Purchase applications rose 9.0%, while refinance applications jumped 11.0%.
Initial claims edged up 8,000 to 312,000. Despite the increase, the trend still points to improvement with the four-week average down 2,250.
According to the Primary Mortgage Market Survey released by Freddie Mac, average fixed-rate mortgage rates fell for the fifth consecutive week and hit new 2014 lows.
According to the Primary Mortgage Market Survey released by Freddie Mac, average fixed-rate mortgage rates decreased for the fourth consecutive week and hit a new low for the year.