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Another rise, albeit a small one, for the price of housing in May.

The Federal Housing Finance Agency (FHFA) reports its House Price Index (HPI) rose 0.2%, marking the third consecutive monthly advance. At the same time, the April increase was revised higher -- from 0.2% to 0.3%.

On a year-over-year basis, prices were up 5.6% from May 2015.

For the nine census divisions, seasonally adjusted monthly price changes from April to May ranged from -1.3% in the New England division to +1.2% in the Mountain division. The 12-month changes were all positive -- ranging from +3.4% in the Middle Atlantic division to +8.5% in the Mountain division.

The monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.

The complete report is available on the FHFA website.

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Jobless claims

Also from the government, word that first-time applications for state unemployment benefits remained below 300,000 for a 72nd consecutive week, the longest streak since 1973.

The Department of Labor (DOL) reports initial jobless claims were down by 1,000 in the week ending July 16, to a seasonally-adjusted 253,000 -- down from the previous week's unrevised level.

The four-week moving average, considered by many economists to be a more accurate gauge of the labor market, fell by 1,250 from the previous week's unrevised figure to 257,750.

The full report may be found on the DOL website.

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