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First-time claims for unemployment insurance rose 10,000 to 372,000 for the week ending December 29, the third-lowest level of the year, the Labor Department reported Thursday. Economists expected claims to increase to 363,000. The previous week's report was revised upward to 362,000 from the originally reported 350,000, an unusually large revision but reflective of intervening holidays, during which state processing offices were closed.

A survey of economists conducted by Pulsenomics and published by Zillow shows high hopes for home prices in 2013 and beyond.

Mortgage application activity turned in December to close the year on a positive note, according to data compiled by Capital Economics.

Congress approved the appointment of Carol Galante as assistant secretary for housing and commissioner of the Federal Housing Administration (FHA). The appointment was finalized Sunday with 69-24 vote from the Senate.

California's Stearns Lending, Inc., is welcoming a new executive. The mortgage lender appointed James Hecht as EVP of strategic development. Hecht has more than 20 years' experience in mortgage banking sales and operations, having started as an intern and later a commissioned originator at MGIC.

In Michigan, Flagstar Bancorp, Inc. (FBC), and its subsidiary, Flagstar Bank (FSB) are starting the new year with an executive leadership shakeup. Recent changes included the promotion of Alessandro DiNello to president and chief administrative officer of FSB and Matthew Kerin to president of FSB's mortgage banking unit.

Negotiators in Washington face a dismal weekend leading up to -- and perhaps including -- New Year's Eve, made worse because they're trying to solve the wrong problem. They're wrangling over how to avoid the fiscal cliff when a series of laws aimed at or contributing to the nation's deficit are set to expire, complicated by Treasury Secretary Timothy Geithner's pronouncement the nation is approaching its debt ceiling.

The Pending Home Sales Index (PHSI) increased for the third straight month in November, improving 1.7 percent to 106.4, the National Association of Realtors reported Friday. Economists had expected a slightly fast, 1.8 percent increase to 106.7. [IMAGE] The index, the NAR said, is at its highest level since April 2010.

New home sales jumped 4.4 percent in November to 377,000, the highest level since April 2010, the Census Bureau and HUD.

First time claims for unemployment insurance dropped 12,000 to 350,000 for the week ended December 22, the third lowest level of the year, the Labor Department reported Thursday. Economists expected claims to increase to 365,000. The previous week├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós report was revised upward to 362,000 from the originally reported 361,000.