News in end use

Redfin reported that the US median asking rent rose 0.4% year-over-year in September to $2,011. This marks the sixth consecutive month in which rents were little changed from a year earlier.

Employment in the construction sector increased by 11,000 positions in September, according to NAHB analysis of Census Bureau data.

Total nonfarm payroll employment increased by 336,000 in September. The unemployment rate held steady at 3.8%.

In September, Canadian employment rose by 64,000, or 0.3%. This follows an increase of 40,000, or 0.2%, in August.

During the first 6 months of 2023, housing supply in Canada’s biggest cities grew by only 1% year-over-year, according to the Canada Mortgage and Housing Corporation.

The 30-year fixed-rate mortgage averaged 7.49%, up from last week when it averaged 7.31%, according to Freddie Mac.

The advance figure for seasonally adjusted initial unemployment claims was 207,000 during the week ending September 30th, an increase of 2,000.

US-based employers announced 47,457 job cuts in September, down 37% from August, according to Challenger, Gray & Christmas, Inc.

Private residential construction spending increased 0.6% in August, the fourth consecutive increase since May, according to the National Association of Home Builders.

Mortgage loan application volume decreased 6.0% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.