Unemployment benefits claims dipped by 1,000, just below expectations for unemployment benefits claims. Trade balance report confirms US avoided third-quarter recession.
Unemployment benefits: Fewer people applied for unemployment benefits last week, though some of that was due to technical factors. And the economy grew slightly more in the April-June quarter than previously estimated.
Late mortgage payments increased slightly in the second quarter. The percentage of Americans making late mortgage payments is nearly eight times the normal rate.
Gas prices, which are still rising, curbed consumer spending during the first quarter of the year. Bad weather, along with high gas prices, may be responsible for the 1.8 percent annual growth rate of the economy.
US economy grew at an annual rate of 2.7 percent in the first quarter of 2010, due to lower consumer spending and higher imports.
Two new reports show home values falling again. They could dip below last year's lows, some economists say.
US consumers are seeing lower interest rates on mortgages, car loans, even credit cards, as investors flee the euro because of the Greek debt crisis.