Mortgage applications for new home purchases increased 4.0% month-over-month and 20.6% year-over-year, according to the Mortgage Bankers Association.
News in end use
30-Year Mortgage Resumes Upward Trek
The 30-year fixed-rate mortgage averaged 7.18% in the week ending September 7th, up from 7.12% a week earlier, according to Freddie Mac.
Producer Price Index for Final Demand Climbs Higher in August
The Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.7% in August, after increasing 0.4% in July.
US Weekly Jobless Claims Increase for the Week Ending September 9th
The advance figure for seasonally adjusted initial unemployment claims was 220,000 during the week ending September 9th, an increase of 3,000 from the previous week.
Mortgage Applications Decline in the Week Ending September 8th
Mortgage loan application volume declined 0.8% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Consumer Price Index Increases 0.6% in August; All-Item Index Up 3.7% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6% in August on a seasonally adjusted basis.
US Consumer Credit Outstanding Growth Slowed in July
Consumer credit outstanding growth slowed to a SAAR of 2.5% in July, down from 3.4% in June, according to the Federal Reserve and NAHB.
Smurfit Kappa Reaches Agreement to Purchase WestRock, Creating World’s Largest Paper and Packaging Company
Ireland’s Smurfit Kappa has reached an agreement to purchase WestRock for an agreed $11 billion to create the world’s largest paper and packaging company, Reuters reported.
Mortgage Credit Availability Increases in August
The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) increased 0.3% to a reading of 96.6 in August.
Late-Summer Homebuying Slowdown Brings Additional Options to Potential Buyers
Zillow data shows that sellers listed nearly 350,000 homes for sale across the US in August, approximately 4% more than in July.