Weekly jobless claims rise and mortgage rates drop as economic recovery remains in flux

Weekly jobless claims rise and mortgage rates drop as economic recovery remains in flux

First-time unemployment claims rose the last week of July ahead of the monthly jobs report being released Friday.

Despite interest rate hikes and inflation fears, a new survey shows mortgage rates are dropping.

The 30-year fixed rate dropped below 5%.

CBS News business analyst Jill Schlesinger explains all that means for the state of the economy.