Fannie Mae’s ESR Group raised its GDP and home sales outlooks for 2025, projecting 1.9% growth and 4.74 million sales, while trimming its inflation forecast.
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US Consumer Price Index Rises 3.0% in September
The Consumer Price Index for All Urban Consumers rose 0.3% in September and 3.0% over the past 12 months.
University of Michigan Releases Final Results of Its Consumer Sentiment Index for October
The Index of Consumer Sentiment fell to 53.6 in October, down 2.7% from September and down 24.0% from a year ago.
US Mortgage Rates Fall to Lowest Level in Over a Year
The 30-year fixed-rate mortgage averaged 6.19%, down from 6.27% the previous week and the lowest level in more than a year, Freddie Mac reported.
US Existing-Home Sales Rise in September
Existing-home sales rose 1.5% in September to 4.06 million units (SAAR), up 4.1% from a year earlier, NAR reported.
US Mortgage Applications Fall in the Week Ending October 17
Mortgage loan application volume fell 0.3% in the week ending October 17, marking the fourth straight weekly decline, MBA reported.
US Homebuyers See Largest Fall Discounts Since 2019
Redfin reported that only 25.3% of US homes sold above list in September, the lowest in six years.
US Rent Growth Slows as Landlord Concessions Rise
Zillow reported that US rent growth slowed to 1.7% year-over-year in September as new supply and record concessions improved affordability.
Canadian Consumer Price Index Rises 2.4% Year-Over-Year in September
Canada’s CPI rose 2.4% year-over-year in September, up from 1.9% in August, as higher food and rent prices offset declines in travel tour costs.
Canadian Industrial Product and Raw Materials Price Indices for September
The IPPI rose 0.8% in September and 5.5% year-over-year. Softwood lumber fell 10.7%, the largest decrease since June 2022.