The 30-year fixed-rate mortgage averaged 6.78%, down from last week when it averaged 6.79%, Freddie Mac reported.
News in end use
US Producer Price Index for Final Demand Up 2.4% Year-Over-Year in October
The Producer Price Index for final demand, seasonally adjusted, increased 0.2% in October.
US Weekly Initial Jobless Claims Trend Lower in the Week Ending November 9th
The advance figure for seasonally adjusted initial unemployment claims was 217,000, a decrease of 4,000 from the previous week’s unrevised level.
Associated Builders and Contractors Construction Backlog Indicator Falls in October
ABC’s Construction Backlog Indicator fell 0.2 months to 8.4 months in October. The reading is unchanged from October 2023.
US Consumer Price Index Increases 2.6% Year-Over-Year in October
Over the past 12 months, the all-items index has increased 2.6% before seasonal adjustment.
Mortgage Applications Increase 0.5% in the Week Ending November 8th
Mortgage loan application volume increased 0.5% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Debt Increases to $5.10 Trillion in Q3
Total outstanding US consumer debt stood at $5.10 trillion for Q3, increasing at a seasonally adjusted annualized rate of 3.28%, the Fed and NAHB reported.
Value of Canadian Building Permits Increases 11.5% in September
The total value of building permits in Canada increased $1.3 billion (CAD), or 11.5%, to $13.0 billion in September.
US Median Asking Rent Rises 0.2% Year-Over-Year in October
The median US asking rent barely moved in October, nudging up 0.2% year-over-year to $1,619, Redfin reported.
NFIB Small Business Optimism Index Trends Higher in October
The NFIB Small Business Optimism Index increased 2.2 points to a reading of 93.7 in October.