News in end use

Just 37.4% of new and existing homes sold during Q3 were affordable to families earning the US median income of $96,000, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.

The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of Q3, the Mortgage Bankers Association reported.

The advance figure for seasonally adjusted initial unemployment claims was 217,000 during the week ending November 4th. This is a decrease of 3,000 from the previous week.

The total monthly value of building permits in Canada fell 6.5% in September to $11.2 billion (CAD). In Q3, the value of building permits increased 4.9% from Q2 to $34.6 billion.

Mortgage loan application volume increased 2.5% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.

The median US asking rent in October was 3.7% below the record high of $2,054 set in August 2022 and down 0.3% from a year ago, Redfin reported.

Consumer credit outstanding growth slowed to a seasonally adjusted annual rate (SAAR) of 0.4% in Q3, according to the Fed and NAHB analysis.

Fannie Mae’s Home Purchase Sentiment Index® (HPSI) inched 0.4 points higher to a reading of 64.9 in October.

In Q3, Commercial and multifamily originations were down 49% year-over-year and 7% when compared to Q2, according to the Mortgage Bankers Association.