As of the last business day in June, the number of job openings and rate was little changed at 9.6 million and the rate was unchanged at 5.8%.
News in end use
Canadian Building Construction Price Indexes Increase in Q2
According to the Canadian Building Construction Price Index, residential building construction costs increased 1.9% in Q2, following a 1.8% increase in Q1. Non-residential building construction increased 1.5% in Q2, following a 1.7% increase in Q1.
Mortgage Payments Declined 0.1% in June
The Mortgage Bankers Association reported that homebuyer affordability improved 0.1% in June. The national median payment applied for by applicants declined to $2,162 from $2,165 in May but up from $2,112 in April 2023.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in June
Personal income increased 0.3% in June. Disposable personal income (DPI), personal income less personal current taxes, increased 0.3%. Personal consumption expenditures (PCE) increased 0.5%.
Canadian Real GDP Increased 0.3% in May
Real GDP increased 0.3% in May, following a 0.1% uptick in April. Service-producing industries were up 0.5%, but that increase was partially offset by a 0.3% decline in goods-producing industries.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for July
The Consumer Sentiment Index showed broad improvements in July.
US Pending Homes Sales Increase in 2 Out of 4 Regions in June
The National Association of Realtors® Pending Home Sales Index increased 0.3% month-over-month to a reading of 76.8 in June. The June increase is the first increase reported since February.
Home Prices Post Largest Year-Over-Year Increase Since November 2022
Redfin reported that during the four-week period ending on July 23rd, the typical US home sold for approximately $382,000. This is up 2.6% year-over-year and is the largest increase since November 2022.
Real GDP Increases at an Annual Rate of 2.4% in Q2, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 2.4% in 2023Q2, according to the “advance” estimate released on Thursday by the Bureau of Economic Analysis. This follows a real GDP increase of 2.0% in 2023Q1.
Fixed-Rate Mortgages Resume Upward Trek in the Week Ending July 27th
Freddie Mac has released its Primary Mortgage Market Survey® for the week ending July 27th. The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.78%.