Freddie Mac: Average U.S. 30-year loan falls to 3.92%

Average U.S. mortgage rates continued to slide this week, raising prospects of a wave of consumers refinancing their loans. The 30-year mortgage fell further below 4 percent.

Mortgage company Freddie Mac said the nationwide average for a 30-year loan declined to 3.92 percent from 3.97 percent last week. The average rate is at its lowest level since June 2013. It was 4.53 percent in January. The average for a 15-year mortgage, a popular choice for people who are refinancing, fell to 3.08 percent from 3.18 percent.

Unemployment benefit claims drop to 14-year low

WASHINGTON — Fewer Americans filed applications for unemployment benefits over the past month than at any time in 14 years as an improving economy prompted employers to hold on to staff.

The four-week average of jobless claims, a less-volatile measure than the weekly figure, dropped to 281,000, the lowest since May 2000, from 284,000 the week before, a Labor Department report showed Thursday. The reading for the week ended Oct. 18 climbed by 17,000 to 283,000, in line with the median forecast of 52 economists surveyed by Bloomberg.

Sustained demand for goods and services is encouraging companies to retain workers, even as economic growth slows abroad.

The number of people continuing to receive jobless benefits dropped by 38,000 to 2.35 million in the week ended Oct. 11, the fewest since December 2000.

Gauge of economy’s future posts 0.8% monthly gain

A gauge designed to predict the economy’s future health posted a solid increase in September after no gain in the previous month.

The Conference Board said its index of leading indicators rose 0.8 percent last month following a flat reading in August which originally had been reported as a small 0.2 percent gain.

Economists expect that continuing strong gains in employment should boost incomes and help support solid economic growth in the United States in coming quarters.

— From news service reports