News in end use

Fannie Mae projects mortgage rates will fall to 5.9% by the end of 2026, with home sales and mortgage originations rising on the lower rate outlook.

Total commercial/multifamily mortgage debt increased by $47.1 billion (1.0%) in Q2, MBA reported.

Canada’s IPPI rose 0.5% in August and 4.0% year-over-year, while the RMPI fell 0.6% month-over-month but gained 3.2% annually.

Canadian building construction investment rose 0.4% to $22.7 billion in July. Residential investment increased $62.1 million to $16.0 billion.

The US multifamily sector absorbed 116,000 units in Q2, one of its strongest demand periods in 25 years, Cushman & Wakefield reported.

Construction employment rose in 19 states in August but fell in 29, with the industry overall losing 7,000 jobs, BLS and NAHB reported.

The number of Canadians receiving regular EI benefits rose 1.2% to 552,000 in July, continuing the upward trend that began in early 2025.

The Home Improvement Research Institute cut its 2025 growth forecast to 2.5% from 3.4%, citing costs and low housing mobility.

The advance figure for seasonally adjusted initial unemployment claims was 231,000, a decrease of 33,000 from the previous week.

The 30-year fixed-rate mortgage averaged 6.26%, down from 6.35% the previous week, Freddie Mac reported.