News in end use

The 30-year fixed-rate mortgage averaged 6.84%, up from last week when it averaged 6.78%, MBA reported.

The advance figure for seasonally adjusted initial unemployment claims was 213,000, a decrease of 6,000 from the previous week’s revised level.

A family earning a median income needed 38% of their income to cover the mortgage payment on a median-priced new home in Q3, NAHB and Wells Fargo reported.

The Conference Board Leading Economic Index (LEI) declined 0.4% to a reading of 99.5 (2016=100) in October, following a 0.3% decline in September (revised up from a 0.5% decline).

Investment in building construction in Canada rose 2.1% to $21.6 billion (CAD) in September, following a 0.2% increase in August.

US home prices grew 0.5% month-over-month in October on a seasonally adjusted basis, matching September’s increase, Redfin reported.

Mortgage loan application volume increased 1.7% on a seasonally adjusted basis from one week earlier, MBA reported.

The total number of loans in forbearance as of October 31st increased to 0.47% of servicers’ portfolio volume, up from 0.34% in September, MBA reported.

Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,311,000. This is 3.1% below the revised September estimate of 1,353,000.

Mortgage applications for new-home purchases in October increased 3.0% month-over-month and 8.2% year-over-year, MBA reported.