The value of building permits issued in Canada decreased by 4.1% to CA$12.9 billion in March. Residential construction intentions rose 2.0% to $8.7 billion.
News in end use
US Mortgage Applications Trend Higher in the Week Ending May 9
Mortgage loan application volume increased 11.0% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Price Index Rises 2.3% Year-Over-Year in April
Over the 12 months ending in April, the all-items index rose 2.3%, down from a 2.4% increase over the prior 12-month period.
US Mortgage Delinquencies Trend Higher in Q1
The delinquency rate in Q1 was up 6 basis points from 2024Q4 and was up 10 basis points year-over-year, MBA reported.
NFIB Small Business Optimism Index Retreats in April
The NFIB Small Business Optimism Index declined 1.6 points to a reading of 95.8 in April.
US Asking Rents Post Sharpest Year-Over-Year Decline Since Early 2024
The median US asking rent fell 1% year-over-year to $1,625 in April, the largest decline since February 2024, Redfin reported.
US Consumer Credit Slows in Q1
Total outstanding consumer credit reached $5.01 trillion in Q1, an increase of 1.53% (SAAR) compared to the previous quarter, the Federal Reserve and NAHB reported.
US Mortgage Credit Availability Steady in April After March Spike
The MBA Mortgage Credit Availability Index held steady at 102.9 in April.
Canadian Employment and Unemployment Data for April
Employment was little changed, with 7,400 jobs added. The unemployment rate rose to 6.9%, up 0.2 percentage points from March.
Median US Monthly Housing Payment Hits Another Record High
During the four-week period ending May 4, the median US monthly housing payment hit an all-time high of $2,868, Redfin reported.