By Doug Barrett Feb 14, 2021 3:00 PM Fewer Americans sought unemployment benefits last week, lowering jobless claims to 793,000. But the large number shows that job cuts remain high despite a substantial decline in new viral infections.
U.S. consumer prices rose 0.3% in January, led by a surge in energy. But even though the gain was the biggest monthly increase since July, inflation gains over the past year have remained modest. Even with the spike, gasoline prices are 8.7% below where they were a year ago.
Long-term mortgage rates are flat for a second straight week. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan remains at last week’s 2.73%. By contrast, the rate stood at 3.47% a year ago.