According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending December 9th, the Market Composite Index (a measure of mortgage loan application volume) increased 3.2% on a seasonally adjusted basis from one week earlier.
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Commercial and Multifamily Mortgage Debt Outstanding Increased $70 Billion in Q3
The Mortgage Bankers Association on Thursday, released its latest Commercial/Multifamily Mortgage Debt Outstanding (CMMDO) quarterly report. According to the CMMDO, in 2022Q3, the level of commercial/multifamily mortgage debt outstanding increased by 1.6%, or $70.0 billion.
Consumer Price Index Increases 0.1% in November; Year-Over-Year All-Item Index Up 7.1%
The US Bureau of Labor Statistics on Tuesday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% in November, on a seasonally adjusted basis, after increasing 0.4% in both October and September. Over the past 12 months, the all-item index has increased 7.1% before seasonal adjustment.
Median Asking Rent in November Posts Smallest Increase in 15 Months
Redfin reported on Tuesday that the median asking rent climbed 7.4% year-over-year in November to $2,007. This is the smallest increase in 15 months and the sixth-consecutive month in which annual rent growth slowed.
Ontario and Canada Investing in Clean Energy Products Using Forest Biomass
The governments of Ontario and Canada jointly announced on Tuesday that they are investing $11.3 million (CAD) to expand CHAR Technologies’ facility in Thorold, Ontario, to produce renewable natural gas (RNG) and biocarbon. The move will create the largest facility of its kind in Canada.
Prices of Building Materials Decline for Third Consecutive Month in November
A closer look at the Bureau of Labor Statistics November 2022 Producer Price Index (PPI) report reveals that the prices of building materials declined 0.3% in November (not seasonally adjusted). The index has declined five out of the past six months for the first time since 2015.
Supply of Homes For Sale Sets Record Increase of 15% in 4-Week Period Ending December 4th
Redfin reported on Thursday that during the four-week period ending December 4th, the total number of homes for sale in the US increased by 15% year-over-year. This is the largest increase since at least 2015.
Mortgage Credit Availability Rises in November—First Increase in Nine Months
According to the Mortgage Bankers Association’s Mortgage Credit Availability Index, which analyzes data from ICE Mortgage Technology, mortgage credit availability rose by 1.4% in November. This marks the first increase in nine months.
Producer Price Index for Final Demand Up 0.3% in November—7.4% Year-Over-Year
The Bureau of Labor Statistics reported that the Producer Price Index for final demand, seasonally adjusted, increased 0.3% in November. On an unadjusted basis, the index for final demand advanced 7.4% for the 12 months ending in November.
University of Michigan Preliminary Consumer Sentiment Index Increases for December
The University of Michigan has released the preliminary results of its Consumer Sentiment Index for December. The Index of Consumer Sentiment rose to a reading of 59.1 in December, up from 56.8 in November. This is a month-over-month increase of 4.0% but down 16.3% year-over-year.