The 30-year fixed-rate mortgage averaged 6.35%, down from last week when it averaged 6.46%, Freddie Mac reported.
News in end use
US Weekly Initial Jobless Claims Decline in the Week Ending August 24th
The advance figure for seasonally adjusted initial unemployment claims was 231,000, a decrease of 2,000 from the previous week’s revised level.
Canadian Payroll Employment and Job Vacancies Report for June
The number of employees receiving pay and benefits from their employer—measured as “payroll employment”—decreased by 47,300, or 0.3%, in June.
US Single-Family Permit-To-Completion Time Has Increased by 3 Months Since 2015
The average completion time of a single-family house in 2023 was approximately 10.1 months, the Census Bureau and NAHB reported.
Mortgage Applications Inch Higher in the Week Ending August 23rd
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Typical US Homebuyer’s Down Payment Hits Record High in June
The typical down payment for US homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier, Redfin reported.
FHFA Home Price Index Declines 0.1% Month-Over-Month in June
The FHFA Home Price Index showed US house prices, seasonally adjusted, were down 0.1% month-over-month in June.
The Conference Board US Consumer Confidence Index Increases in August
The Conference Board Consumer Confidence Index® increased to a reading of 103.3 in August, up from a revised reading of 101.9 in July.
S&P CoreLogic Case-Shiller Index Reports 5.4% Annual Home Price Gain in June
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 5.4% in June, down from a 5.9% in May.
BLS Indicates US Construction Labor Market Not as Strong as Originally Estimated
For the 12-month period through March, construction employment was revised down by 45,000, 0.6% less than the initially reported, the BLS and NAHB reported.