Last week’s economic news included readings on new and pending home sales and weekly reports on mortgage rates and new jobless claims.

Last week’s economic reports included minutes of the Fed’s Federal Open Market Committee meeting held in September along with releases on inflation and weekly reports on mortgage rates and new jobless claims.

Fixed mortgage rates rose by two basis points last week as the average rate for a 5/1 adjustable rate mortgage dropped by two basis points. Construction spending returned to positive territory, but job growth dropped in public and private sectors. National unemployment was lower.