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Surging demand stemming from the coronavirus pandemic led sales of consumer packaged goods — like toilet paper and canned soup — to climb 9.4% to $1.53 trillion last year.

The European Central Bank announced this week it will continue to buy bonds to support the eurozone economy, indirectly supporting U.S. bonds and helping keep rates low.

Jobless claims last week hit a pandemic low, falling to 547,000. Continuing claims also fell, showing the job market continues to rebound.

 

Existing home sales suffered a 2nd straight monthly decline, as tight supply pushed prices higher. The median price of existing homes sold was $329,100, a 17% annual increase.

Mortgage purchase applications were up 6% for the week and 57% over a year ago. Refi applications jumped 10% for the week but were still 23% lower than a year ago.

Congress allocated more than $45 billion in rental assistance, but states are struggling to get the money to renters, many of whom are still facing the threat of eviction.