News in end use

US home prices grew 0.5% in August on a seasonally adjusted basis, the largest month-over-month increase since April, Redfin reported.

Mortgage applications for new-home purchases were unchanged month-over-month but were up 4.4% year-over-year in August, MBA reported.

The NAHB/Wells Fargo Housing Market Index increased 2 points to a reading of 42 in September.

The Canadian Consumer Price Index (CPI) increased 2.0% year-over-year in August. This the slowest pace since February 2021.

Home sales increased 1.3% month-over-month in August to the highest level since January and the second highest level in over a year, CREA reported.

The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, the Census Bureau and NAHB reported.

Lower mortgage rates and rising inventory are giving home buyers a window of opportunity at an unusual time of year, Zillow reported.

The Index of Consumer Sentiment rose to a reading of 69.0 in September, up from 67.9 in August. This is a month-over-month increase of 1.6% and up 1.8% year-over-year.

The 30-year fixed-rate mortgage averaged 6.20%, down from last week when it averaged 6.35%, Freddie Mac reported.