News in end use

The Mortgage Bankers Association is reporting that data from its February Builder Application Survey reveals mortgage applications for new home purchases increased 4.0% from January and were 1.2% higher year-over-year.

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 192,000 during the week ending on Saturday, March 11th. This is a decrease of 20,000 from the previous week’s revised level of 212,000.

The Canada Mortgage and Housing Corporation announced Wednesday that the standalone monthly seasonally adjusted rate (SAAR) of total housing starts for all areas in Canada increased 13% to 243,959 units in February when compared to 216,514 units in January.

The Canadian Real Estate Association (CREA) reported Wednesday that home sales recorded over the Canadian MLS® Systems were up 2.3% month-over-month in February. Gains were led by the Greater Toronto and Greater Vancouver areas.

On Wednesday, 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 2 points in March to a reading of 44. This marks the third consecutive month of gains.

The Bureau of Labor Statistics reported Wednesday that the Producer Price Index (PPI) for final demand, seasonally adjusted, decreased 0.1% in February. On an unadjusted basis, the index for final demand advanced 4.6% for the twelve-month period ending in February.

According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending March 10th, the Market Composite Index—a measure of mortgage loan application volume—increased 6.5% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 7.0%.

Statistics Canada reported today that in January, investment in building construction in Canada increased 1.5% to $20.4 billion (CAD), with all components posting gains. On a constant dollar basis (2012=100), investment in building construction increased 2.4% to $11.9 billion.

The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers increased 0.4% in February, on a seasonally adjusted basis, after increasing 0.5% in January and declining 0.1% in December. Over the past 12 months, the all-item index has increased 6.0% before seasonal adjustment.

According to the Mortgage Bankers Association’s (MBA) Mortgage Credit Availability Index report, which analyzes data from the ICE Mortgage Technology, mortgage credit availability decreased in February. Mortgage credit availability has declined eleven times in the past twelve months.