Total existing-home sales increased 1.3% in July from June to a seasonally adjusted annual rate of 3.95 million, NAR reported.
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US Fixed-Rate Mortgages Inch Lower in the Week Ending August 22nd
The 30-year fixed-rate mortgage averaged 6.46%, down from last week when it averaged 6.49%, Freddie Mac reported.
US Weekly Initial Jobless Claims Increase in the Week Ending August 17th
The advance figure for seasonally adjusted initial unemployment claims was 232,000 during the week ending August 17th, an increase of 4,000 from the previous week’s revised level.
Canadians Receiving Employment Insurance Increases in June; Unemployment Climbs to 6.4%
The number of Canadians receiving regular Employment Insurance benefits in June totaled 474,000, up 1.3%, or 6,000, from a month earlier
Fannie Mae Lowers Expectations For Home Sales, But Upgrades GDP Outlook for 2024
According to the ESR Group, total home sales are expected to come in lower than previously forecast through the rest of 2024, and then not pick up meaningfully until further out in 2025.
Canadian Industrial Product and Raw Materials Price Indices for July
Prices for lumber and other wood products fell 3.4%, mainly on lower prices for softwood lumber, down 7.8%.
State-Level Construction Employment Analysis for July
Overall, the construction industry added a net 25,000 jobs in July compared to the previous month, the BLS and NAHB reported.
Mortgage Applications Decline in the Week Ending August 16th
Mortgage loan application volume declined 10.1% on a seasonally adjusted basis from one week earlier, MBA reported.
US Home Prices Increase 0.2% in July, The Smallest Month-Over-Month Increase Since January 2023
The Redfin Home Price Index ticked up 0.2% for the second consecutive month in July, on a seasonally adjusted basis. On a year-over-year basis, home prices rose 6.8%.
Canadian New-Home Prices Edge Higher in July
The national index edged up 0.2% month-over-month in July. Year-over-year, the index increased 0.1% July.