The Fannie Mae Home Price Index increased 5.2% year-over-year in Q1, largely unchanged from the previous quarter’s 5.3% growth.
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State-Level Construction Employment Data for March
30 states added construction jobs in March compared to February, the BLS and NAHB reported. Nationally, the construction industry added a net 13,000 jobs.
US New-Home Purchase Mortgage Applications Increase in March
Mortgage applications for new-home purchases increased 14.0% in March, MBA reported. Year-over-year, mortgage applications increased 5.5%.
US Housing Starts and Completions Decline in March; Permits Edge Up
Housing starts in March were at a seasonally adjusted annual rate of 1,324,000, 11.4% below the revised February estimate of 1,494,000.
US Homes Selling at Slowest Pace in Six Years
The typical US home that went under contract in March spent 47 days on the market, the longest for any March since 2019, Redfin reported.
US Mortgage Rates Climb in the Week Ending April 17
The 30-year fixed-rate mortgage averaged 6.83%, up from last week when it week when it averaged 6.62%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending April 12
The advance figure for seasonally adjusted initial unemployment claims was 215,000, a decrease of 9,000 from the previous week’s revised total.
Canadian Unemployment Increases in February
The number of Canadians receiving regular Employment Insurance benefits rose 2.5% in February, an increase of 12,000 people.
US Builder Confidence Continues to Reflect Economic Uncertainty and Elevated Material Costs
The NAHB/Wells Fargo Housing Market Index revealed that builder sentiment in the market for newly built single-family homes rose to 40 in April, up one point from March.
Bank of Canada Holds Interest Rates Steady Amid Trade Uncertainty
The Bank of Canada left its benchmark interest rate unchanged as it awaits a clearer picture of how global trade uncertainty will impact Canada, the Canadian Press reported.