The 30-year fixed-rate mortgage averaged 6.12%, up from last week when it averaged 6.08%, Freddie Mac reported.
News in end use
US Weekly Initial Jobless Claims Increase in the Week Ending September 28th
The advance figure for seasonally adjusted initial unemployment claims was 225,000, an increase of 6,000 from the previous week.
US Private Sector Job Cuts Ease in September
US-based employers announced 72,821 cuts in September, a 4% decrease from August, Challenger, Gray & Christmas reported.
Mortgage Applications Decline in the Week Ending September 27th
Mortgage loan application volume decreased 1.3% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment and Compensation Both Increased in August
Private sector employment increased by 143,000 jobs in September, ADP reported.
US Residential Construction Spending Declines 0.3% in August
Private residential construction spending declined 0.3% in August, the Census Bureau and NAHB reported.
US Construction Spending Declines 0.1% in August
Total construction spending in August was estimated at a seasonally adjusted annual rate of $2,131.9 billion, 0.1% below the revised July rate.
US Construction Sector Employment Improves in August
The number of open construction sector jobs rebounded from a revised, soft reading of 232,000 in July to 370,000 in August, BLS and NAHB reported.
US Job Openings and Labor Turnover Summary for August
As of the last business day in August, the number of job openings was 8.0 million. Year-over-year, the measure was down 1.3 million.
US Starter-Home Affordability Improves Year-Over-Year for the First Time Since August 2020
Redfin reported that US homebuyers need to earn $76,995 per year to afford the median priced starter home (with a value of $250,000).