Canada, Ontario, and the regional Municipality of Halton have announced over $45 million (CAD) in funding to construct 52 affordable housing units in Oakville, Ontario.
News in end use
Acquisition, Development, and Construction Loan Volumes Decline in Q2
Rising interest rates and tightening financial conditions contributed to a decline in the volume AD&C loans during Q2, the National Association of Home Builders reported.
Canadian Employment Increases in August
Employment throughout Canada increased by 40,000, or 0.2%, in August, following little change in July. Since January, employment has increased by 174,000, or 0.9%.
Fannie Mae Home Purchase Sentiment Index Unchanged for August
The Index remained effectively unchanged in August, as consumer confidence towards housing continued along the low-level set earlier in the year.
Canadian Building Permits Decline in July
The total monthly value of building permits in Canada declined 1.5% to $11.7 billion in July. The value of residential permits increased 5.4% to $7.4 billion.
US Weekly Jobless Claims Decrease in the Week Ending September 2nd
The advance figure for seasonally adjusted initial unemployment claims was 216,000. a decrease of 13,000 from the previous week’s revised level.
Home Prices Continue to Accelerate Even as Demand Weakens
The typical monthly mortgage payment is $2,612, just $18 below the all-time high set in May, Redfin reported.
30-Year Fixed-Rate Mortgage Remains Above 7% For the Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 7.12%, down from last week when it averaged 7.18%, according to Freddie Mac.
Mortgage Applications Slump in the Week Ending September 1st
Mortgage loan application volume declined 2.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Mid-America Lumbermens Association Merges With Northwestern Lumber Association, Creating 1,800-Member Trade Association
The Mid-America Lumbermens Association (MLA) and Northwestern Lumber Association (NLA) have merged to create one of the largest building material trade associations in the industry, HBSDealer reported.