Mortgage applications for new-home purchases increased 0.3% in February, MBA reported. Year-over-year, mortgage applications decreased 6.9%.
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US Weekly Initial Jobless Claims Decline in the Week Ending March 8
The advance figure for seasonally adjusted initial unemployment claims was 220,000, a decrease of 2,000 from the previous week’s revised total.
Bank of Canada Reduces Its Target Overnight Interest Rate Amid Uncertainty of US Tariffs
The Bank of Canada reduced its target for the overnight rate by 0.25% to 2.75%, with the Bank Rate at 3.00% and the deposit rate at 2.70%.
US Consumer Price Index Rises 2.8% Year-Over-Year in February
The Consumer Price Index for All Urban Consumers increased 0.2% on a seasonally adjusted basis in February. Over the past 12 months, the all-items index increased 2.8% before seasonal adjustment.
US Mortgage Applications Increase in the Week Ending March 7
Mortgage loan application volume increased 11.2% on a seasonally adjusted basis from one week earlier, MBA reported.
US Residential Construction Job Openings Rise in January
The number of open residential construction sector jobs increased from a revised 205,000 in December to 236,000 in January, the BLS and NAHB reported.
MBA Mortgage Credit Availability Index Increases for the Third Consecutive Month in February
The MBA Mortgage Credit Availability Index increased 1.4% to a reading of 100.4 in February.
US Job Openings and Labor Turnover Summary for January
The number and rate of job openings were little changed at 7.7 million and 4.6%, respectively.
NFIB Small Business Optimism Index Retreats Further in February
The NFIB Small Business Optimism Index declined 2.1 points to a reading of 100.7 in February. The Uncertainty Index rose four points to 104, the second highest recorded reading.
Fannie Mae Home Purchase Sentiment Index Slips in February
The Fannie Mae Home Purchase Sentiment Index declined 1.8 points to a reading of 71.6 in February, the first year-over-year decline since 2023.