News in end use

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.

The ABC Construction Backlog Indicator fell to 8.2 months in August. Year-over-year, the CBI is down 1.0 months.

Mortgage loan application volume increased 1.4% on a seasonally adjusted basis from one week earlier, MBA reported.

MBA reported that commercial mortgage delinquencies increased in Q2, according to the latest data from its Commercial Delinquency Report.

The MBA Mortgage Credit Availability Index increased 0.9% to a reading of 99.0 in August.

The median US asking rent rose 0.9% year-over-year in August to $1,645—the biggest annual increase since April 2023—Redfin reported.

The NFIB Small Business Optimism Index decreased by 2.5 points to a reading of 91.2 in August, erasing July’s gains.

The HPSI increased 0.6 points to a reading of 72.1 in August, as consumers reported greater optimism about the future direction of mortgage rates despite showing little change in overall homebuying sentiment.

Nonresidential construction employment increased by a net 28,300 positions August, with growth in all three subcategories, ABC reported.

Total nonfarm payroll employment increased by 142,000 in August. This is below the average monthly gain of 202,000 over the previous 12 months.