The 30-year fixed-rate mortgage averaged 6.20%, down from last week when it averaged 6.35%, Freddie Mac reported.
News in end use
Value of Canadian Building Permits Soars 22.1% in July
The total value of building permits in Canada soared 22.1% month-over-month to $12.4 billion (CAD) in July. This follows two consecutive months of declines.
US Monthly Housing Payments Retreat to Early-2024 Levels
During the four-week period ending on September 8th, the median US monthly housing payment was $2,558—down nearly to where it was at the start of the year—Redfin reported.
US Producer Price Index for Final Demand Increases 0.2% Month-Over-Month in August
The Producer Price Index (PPI) for final demand, seasonally adjusted, advanced 0.2% in August.
US Weekly Initial Jobless Claims Increase in the Week Ending September 7th
The advance figure for seasonally adjusted initial unemployment claims was 230,000, an increase of 2,000 from the previous week’s revised level.
US Consumer Price Index Increases 2.5% Year-Over-Year in August
The CPI-U increased 0.2% on a seasonally adjusted basis. Over the past 12 months, the all-items index increased 2.5% before seasonal adjustment.
Nonresidential Construction Backlog and Contractor Confidence Decline in August
The ABC Construction Backlog Indicator fell to 8.2 months in August. Year-over-year, the CBI is down 1.0 months.
Mortgage Applications Rise in the Week Ending September 6th—Third Consecutive Increase
Mortgage loan application volume increased 1.4% on a seasonally adjusted basis from one week earlier, MBA reported.
Commercial Mortgage Delinquencies Increase in Q2
MBA reported that commercial mortgage delinquencies increased in Q2, according to the latest data from its Commercial Delinquency Report.
Mortgage Credit Availability in August Reaches Highest Level Since July 2022
The MBA Mortgage Credit Availability Index increased 0.9% to a reading of 99.0 in August.