News in end use

42% of new single-family detached homes sold in 2022 were built on lots under 7,000 square feet (less than 0.16 of an acre), according to the Census Bureau and NAHB.

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.

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.

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%.

The Index remained effectively unchanged in August, as consumer confidence towards housing continued along the low-level set earlier in the year.

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.

The advance figure for seasonally adjusted initial unemployment claims was 216,000. a decrease of 13,000 from the previous week’s revised level.

The typical monthly mortgage payment is $2,612, just $18 below the all-time high set in May, Redfin reported.

The 30-year fixed-rate mortgage averaged 7.12%, down from last week when it averaged 7.18%, according to Freddie Mac.

Mortgage loan application volume declined 2.9% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.