The NAHB Multifamily Production Index rose six points to 46 in Q3, while the Occupancy Index slipped one point to 74.
News in end use
US Fixed Mortgage Rates Inch Higher in the Week Ending November 6
The 30-year fixed-rate mortgage averaged 6.22%, up from 6.17% the previous week, Freddie Mac reported.
ADP: Private Sector Employment and Pay Rise in October
Private sector employment increased by 42,000 in October, while annual pay rose 4.5% from a year earlier.
US Mortgage Applications Fall in the Week Ending October 31
Mortgage loan application volume decreased 1.9% on a seasonally adjusted basis from one week earlier, MBA reported.
Canadian Building Construction Costs Rise in Q3
Building construction costs in Canada rose 0.6% in Q3 for both residential and nonresidential sectors, amid tariffs, supply-chain issues, and labor shortages.
US Housing Market Cools Despite Lower Mortgage Rates
US homes stayed on the market longer in October despite lower mortgage rates, as inventory rose for the 24th straight month, Realtor.com reported.
US National Median Rents Decline for Third Straight Month in October
US median rent fell 0.8% in October to $1,381, the third straight monthly decline, Apartment List reported.
US Mortgage Application Payment Index Falls 1.6% in September
The MBA’s Purchase Applications Payment Index fell 1.6% to 155.0 in September, marking the fourth straight month of improving affordability.
Canadian Real GDP Contracts 0.3% in August
Canada’s real GDP declined 0.3% in August, offsetting July’s gain, as both goods and services sectors weakened.
US Mortgage Rates Decline for Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.17%, down from 6.19% the previous week, Freddie Mac reported.