The 30-year fixed-rate mortgage averaged 6.84%, down from last week when it averaged 6.85%, Freddie Mac reported.
News in end use
US Producer Price Index for Final Demand Increases in May
The PPI for final demand, seasonally adjusted, increased 0.1% in May. On an unadjusted basis, the index rose 2.6% year-over-year.
US Weekly Initial Jobless Claims Increase in the Week Ending June 7
The advance figure for seasonally adjusted initial unemployment claims was 248,000, unchanged from the previous week’s revised total.
Value of Canadian Building Permits Declines 6.6% in April
The total value of building permits issued in Canada decreased by 6.6%, or CA$829.6 million, to $11.7 billion in April.
US Mortgage Applications Climb in the Week Ending June 6
Mortgage loan application volume increased 12.5% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Price Index Rises 2.4% Year-Over-Year in May
The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.1% in May on a seasonally adjusted basis, following a 0.2% increase in April.
US Mortgage Credit Availability Rises in May
The MBA Mortgage Credit Availability Index increased 2.1% to a reading of 105.1 in May.
NFIB Small Business Optimism Index Improves in May, but Uncertainty Rises
The NFIB Small Business Optimism Index rose three points in May to 98.8, slightly above its 51-year average of 98.
Fannie Mae Home Purchase Sentiment Index Rises in May
The Fannie Mae Home Purchase Sentiment Index increased 4.3 points to a reading of 73.5 in May.
Home Improvement Research Institute Revises 2025 Remodeling Forecast Lower
HIRI has revised its 2025 market growth forecast downward, citing “prevailing macroeconomic challenges,” HBS Dealer reported.