News in end use

Commercial and multifamily mortgage loan originations in Q3 increased 59% year-over-year and 44% when compared to Q2, MBA reported.

Canadian employment was little changed in October, gaining 15,000 new positions, up 0.1%, following an increase of 47,000 in September, up 0.2%.

The Fed cut rates by 0.25%, taking note of a job market that has “generally eased” while inflation continues to move towards the bank’s 2% target.

US pending home sales rose 4.3% year-over-year during the four weeks ending November 3rd, Redfin reported.

The 30-year fixed-rate mortgage averaged 6.79%, up from last week when it averaged 6.72%, Freddie Mac reported.

Confidence in the market for new multifamily housing showed mixed results year-over-year in Q3, NAHB reported.

The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased slightly compared to one year ago, MBA reported.

The advance figure for seasonally adjusted initial unemployment claims was 221,000, an increase of 3,000 from the previous week’s revised level.

Mortgage loan application volume decreased 10.8% on a seasonally adjusted basis from one week earlier, MBA reported.

In Q3, residential building construction costs increased 0.9% on a quarterly basis, following a 1.0% increase in the previous quarter.