News in end use

The Bureau of Labor Statistics reported today) that the Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October. On an unadjusted basis, the index for final demand advanced 8.0% for the 12 months ending in October.

Redfin reports that according to their estimates, a homebuyer must earn $107,281 a year in order to be able to afford the typical monthly US mortgage payment of $2,682.00. That number is up 45.6% from a year ago.

Statistics Canada reported today that investment in building construction in Canada declined 0.6% to $20.9 billion (CAD) in September. Investment in residential building construction declined 1.3% to $15.4 billion. Single-family home investment fell 1.3% to $8.5 billion.

According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.45% of all outstanding loads at the end of 22Q3.

According to the latest report from Redfin, for the four-week period ending on November 6th, home-sale prices increased 3.2% year-over-year. This is the smallest increase since July 2020.

According to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index, just 42% of new and existing homes sold in Q3 were affordable to families earning the US median income of $90,000.

The University of Michigan released the preliminary results of its Consumer Sentiment Index (CSI) for November. The Index of Consumer Sentiment dropped to a reading of 54.7, down from 59.9 in October. This is a month-over-month decline of 8.7%.

The US Bureau of Labor Statistics on Thursday reported that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in October on a seasonally adjusted basis—the exact same size increase as was reported in September.

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending November 10th. The PMMS reports that the 30-year fixed-rate mortgage averaged 7.08% with an average 0.9 point, up from last week when it averaged 6.95%.

The US Department of Labor is reporting that the advance figure for seasonally adjusted initial unemployment claims was 225,000 during the week ending on Saturday, November 5th. This is an increase of 7,000 from the previous week’s revised level.