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Unemployment Claims Rise Unexpectedly - CNNMoney.com -- The number of Americans filing for initial unemployment insurance rose last week, the government said Thursday. Analysts had expected a decline.

There were 480,000 initial job claims filed in the week ended Dec. 12, up 7,000 from the previous week's revised 473,000, the Labor Department said today.

The 4-week moving average of initial claims totaled 467,000, down 5,250 from the previous week's revised average of 472,750.

This marks the second consecutive week that claims have climbed. But weekly claims have proven to be volatile with some pops but overall maintaining a downward trajectory. Analysts say that's normal for this time of year.

Stocks Slump on Global Jitters - Stocks closed sharply lower Thursday after Greece received another credit downgrade and the dollar rose on the U.S. central bank's cautious comments.

The Dow Jones industrial average fell 133 points, or 1.3%. Declines were broad based, with 28 of the 30 Dow components ending lower.

The S&P 500 index lost 13 points, or 1.2%. The Nasdaq composite slipped 27 points, or 1.2%.

The stock slump came as the dollar rebounded 1.3% against the euro, to its highest levels since September. The greenback was also up sharply on the pound and slightly higher against the yen.

Fannie and Freddie Report Rising Rates Last Week - Mortgage interest rates increased during the week ended December 17 as the economy showed continued signs it is climbing out of the recession.

According to the Primary Mortgage Market Survey conducted by Freddie Mac, the interest rate for the 30-year fixed-rate mortgage (FRM) jumped to 4.94 percent with 0.7 point from an average of 4.81 percent with 0.7 point during the week ended December 10.

The increase in the rate for the 15-year FRM was less sharp but rates did average 4.38 percent with 0.6 point compared to 4.32 percent with 0.6 point the week before.

The rate for the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) increased by 11 basis points to 4.37 percent. Fees and points were unchanged at 0.6 point.

The 1-year Treasury-indexed ARM rose to 4.34 percent with 0.5 point from 4.24 percent also with 0.5 point.