News in end use


Mortgage Rates Climb Above 4% in the Week Ending March 17, 2022

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending March 17, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 4.16% with an average 0.8 point, up from last week when it averaged 3.85%. A year ago, at this time, the 30-year FRM averaged 3.09%.

Home Builder Sentiment Declines for Fourth Consecutive Month in March

On Wednesday (3-16-22), The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment in the market for newly built single-family homes edged 2-points lower in March to a reading of 79. Despite four consecutive monthly declines, the HMI has posted solid reading for the past 6-months.

Mortgage Applications Decline in Week Ending March 11, 2022

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending March 11, 2022, the Market Composite Index (a measure of mortgage loan application volume) declined -1.2% on a seasonally adjusted basis from one week earlier.

Canadian Home Sales Increased in February

The Canadian Real Estate Association (CREA) reported today (3-15-22) that national homes sales in Canada were up in February 2022, as buyers took advantage of early spring listings. Home sales recorded over Canadian MLS® Systems climbed 4.6% between January and February 2022.