News in end use

The University of Michigan today (Friday 8-13-21), released its preliminary Consumer Sentiment Index (CSI) for August. The Index of Consumer Sentiment dropped to a reading of 70.2 in August, down from 81.2 in July, a month-over-month decline of -13.5% and -5.3% year-over-year (74.1 in August 2020).

According to the latest Bureau of Labor Statistics July Producer Price Index (PPI), with analysis provided by the National Association of Home Builders (NAHB), prices paid for goods used in residential construction, less energy, rose 0.2% in July, after rising 3.0% in June (not seasonally adjusted).

The Mortgage Banker Association (MBA) on Thursday (8-12-21), released their Mortgage Credit Availability Index (MCAI), that analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for July. According to the MCAI rose by 0.3% to 119.1 in July.

Statistics Canada (StatCan) today (8-13-21) released its Flash Estimate for July 2021, Industrial Product Price Index (IPPI). The IPPI edge up 0.1% month-over-month in July and is up 16.2% year-over-year.

Statistics Canada (StatsCan) reported today (8-12-21) that investment in building construction in Canada declined -4.5% to $18.4 billion (CAD) in June. Investments in both residential and non-residential construction investment were down.

The Bureau of Labor Statistics (BLS) reported today (8-12-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.0% in July. Final demand prices rose 1.0% in June, 0.8% in May, 0.6% in April, 1.0% in March and 0.5% in February.

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 12, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.87% percent with an average 0.7 point, up from last week when it averaged 2.77%. A year ago, at this time, the 30-year FRM averaged 2.96%.

The U.S. Department of Labor is reporting that an additional 375,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, August 7, 2021 — a decrease of 12,000 from the previous week’s revised level.

The Fannie Mae Home Purchase Sentiment Index®(HPSI), which reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis, decreased 3.9 points to a reading of 75.8 in July. This occured as consumers continue to report concerns related to high home pries and a lack of homes for sale.

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey, for the week ending August 6, 2021, the Market Composite Index — a measure of mortgage loan application volume — increased 2.8% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3% compared with the previous week.