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Sunday, June 23, 2013 – 07:00 p.m.

Here’s some news of interest flowing across the transom this weekend.

California unemployment rate drops

The official unemployment rate for California has dropped again.

The new rate is now at 8.6%. The lowest since the before the start of the Great Recession.

A main driver of the rate drop is the number of people dropping off benefit rolls. The rate does not reflect the climbing ranks of part-time employees.

U.S. Inflation rate remains at low levels

The U.S. Consumer Price Index (CPI) remained at w very low level in the latest reading released last week.

The current adjusted inflation rate measurement for the month of May is at 1.36%. The reading reading was 1.06%.

Yes, I know. Actual prices really do climb more than the rate.

Mortgage rates climb

The newest reading on 30-year mortgage rates isn’t too good.

In less than a month the average rate has climbed from near 3.50% to this weekend’s rate of 4.38%. Last week the rate was 4.02%.

While historically low, the rate increase will have an impact on home purchase borrowing. However, there’s a good chance the rate may ease back down somewhat.

But that’s all dependent on weak economic news.

California officials get a pay raise

That’s right! California Governor Jerry Brown, and the state’s other elected officials, including members of the legislature, will all get a 5% pay raise.

It’s all courtesy of the Citizen’s Compensation Commission.

I guess we can forget about all the states’ debt, a smoke and mirrors budget, and massive unfunded liabilities.

I can hear the new campaign pitch from Brown, when those temporary tax increases all expire.