The Conference Board Leading Economic Index® (LEI) declined 0.7% to a reading of 106.1 (2016=100) in June, after posting a decline of 0.6% in May. The LEI has dropped 4.2% over the six-month period from December 2022 to June.
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US Weekly Jobless Claims Decline in the Week Ending July 15th
The advance figure for seasonally adjusted initial unemployment claims was 228,000 during the week ending on Saturday, July 15th. This is a decrease of 9,000 from the previous week’s unrevised level of 237,000.
US Housing Starts, Permits, and Completions All Decline in June
Privately‐owned housing starts in June were at a SAAR of 1,434,000. This is 8.0% below the revised May estimate of 1,559,000. Single-family housing starts were at a rate of 935,000; this is 7.0% below the revised May figure of 1,005,000.
Investment in Canadian Building Construction Declined in May
Investment in Canadian building construction declined 1.2% in May to $19.9 billion (CAD). On a constant dollar basis (2012=100), investment in building construction fell 1.5% to $11.5 billion.
Mortgage Applications Increase in the Week Ending July 14th
According to the Mortgage Bankers Association, mortgage loan application volume increased 1.1% on a seasonally adjusted basis from one week earlier. The results include an adjustment for the observance of Independence Day.
US Builder Sentiment Up for Seventh Consecutive Month in July
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes increased 1 point in July to a reading of 56.
Canada Mortgage and Housing Corp. Reports Record Monthly Increase in Housing Starts in June
The Canada Mortgage and Housing Corporation reported that a significant increase in actual housing starts in June helped reverse the declining trend in housing starts observed over the last several months.
Canada’s Industrial Product Price Index and Raw Materials Price Index Both Decline in June
The Industrial Product Price Index (IPPI) decreased 0.6% month-over-month in June and has declined 5.5% year-over-year. Excluding energy and petroleum products, the IPPI fell 0.9% in June.
Shares of Mortgage Loans in Forbearance Continued to Decline in June
According to the Mortgage Bankers Association, the total number of loans in forbearance as of June 30th decreased 5 basis points to 0.44% of servicers’ portfolio volume. An estimated 220,000 homeowners remain in forbearance plans.
Canadian Consumer Price Index Climbed Higher in June
The Canadian Consumer Price Index (CPI) increased 2.8% year-over-year in June, following a 3.4% increase in May. Excluding gasoline, headline inflation would have been 4.0% in June, following a 4.4% increase in May.