News in end use


Consumer Credit Expands in Q3 2021

On Friday (11-5-21), the Federal Reserve released their G.19 report for Q3 2021. With further analysis provided by the National Association of Home Builder (NAHB), the report shows that non-real estate-secured consumer credit increased at a seasonally adjusted annual rate (SAAR) of 5.6% in Q3 of 2021, with revolving debt increasing by 7.4% and nonrevolving debt increasing by 5.1%.

Higher Mortgage Rates and Tight Supply of Homes For Sale Increase Buyer Urgency

According to the latest report from Redfin, the technology-powered real estate brokerage firm, home prices moved unseasonably higher and quicker sales became more common in October. In the 4-week period ending October 31, the national median sale price increased 13% year-over-year to $357,007 and 1.5% from just 3-weeks earlier. This is compared to a 0.1% increase during the same time period in 2019.

Mortgage Rates Fall in the Week Ending November 4, 2021

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending November 4, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 3.09% with an average 0.7 point, down from last week when it averaged 3.14%. A year ago, at this time, the 30-year FRM averaged 2.78%.

Challenger Reports U.S. Job Cuts Increased 27.5% in October

According to the latest Job Cut Report from Challenger, Gray & Christmas (CG&C) Inc., a global outplacement and business and executive coaching firm, U.S.-based employers’ announced job cuts rose by 27.5% in October to 22,822 — up from the 17,895 announced in September. This is the highest monthly total since May 2021, when 24,586 cuts were recorded.