Analysis of the U.S. Bureau of Labor Statistics (BLS) of April’s Producer Price Index data provided by Associated Builders and Contractors (ABC) reveal that construction input prices increased 1.3% in April 2021, when compared those of March 2021. Nonresidential construction input prices increased 1.6% in April.
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Index of Consumer Sentiment in May Drops -6.2% Month-Over-Month, Rises 14.5% Year-Over-Year
The University of Michigan released today (5-14-21) its preliminary Index of Consumer Sentiment (ICS) for May 2021. Month-over-month the ICS declined -6.2% from 88.3 in April to 82.8 in May. When compared to May 2020, the ICS increased 14.5% from May 2020 reading of 72.3.
30-Year Mortgage Rate Drops to 2.94% in the Week Ending May 13, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending May 6, 2021. The PMMS reports that the 30-year fixed-rate mortgage averaged 2.94% with an average 0.7 point, down from last week when it averaged 2.96% percent. A year ago, at this time, the 30-year FRM averaged 3.28%.
Weekly Jobless Claims Continued to Decline in the Week Ending May 8, 2021
The U.S. Department of Labor is reporting that an additional 473,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, May 8, 2021 — a decrease of 34,000 from the previous week’s revised level.
Producer Price Index for Final Demand Increases in April
The Bureau of Labor Statistics (BLS) reported today (5-13-21) that the Producer Price Index for final demand, seasonally adjusted, increased 0.6% percent in April. Final demand prices rose 1.0% in March and 0.5% in February.
Investment in Canadian Building Construction Rose 5.9% in March 2021
Statistics Canada (StatsCan) reported on Wednesday (5-12-21) that investment in Canadian building construction rose 5.9% to $18.6 billion (CAD) in March 2021. For the eleventh consecutive month, residential construction investment also increased, rising 7.6% to $14.0 billion (CAD) in March 2021.
Consumer Price Index for All Urban Consumers Increases 0.8% in April; Up 4.2% Year-Over-Year
The U.S. Bureau of Labor Statistics (BLS) announced on Wednesday (5-12-21) the Consumer Price Index for all Urban Consumers (CI-U) increased 0.8% in April, on a seasonally adjusted basis, after rising 0.6% in March. Over the last 12 months, the all items index increased 4.2% before seasonal adjustment.
Mortgage Applications Increase 2.1% in Week Ending May 7, 2021
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey for the week ending April 30, 2021, the Market Composite Index, a measure of mortgage loan application volume, increased 2.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2% compared with the previous week.
U.S. Bureau of Labor Statistics Reports Construction Sector Hiring Increased in March
A deeper dive into the recent (5-11-21) Bureau of Labor Statistics (BLS) Job Openings and Labor Turnover Survey (JOLTS) provided by the National Association of Home Builders (NAHB) looking specifically at the construction sector reveals that the housing market remains robust, and as a result additional labor is required.
Shares of Mortgages in Forbearance Decline for Ten Consecutive Weeks in Week Ending May 2, 2021
The latest Mortgage Banker Association’s (MBA) Forbearance and Call Survey reports that the total number of loans now in forbearance decreased by 11 basis points from 4.47% of servicers’ portfolio volume in the prior week, to 4.36% as of May 2, 2021. According to MBA’s estimate, 2.2 million homeowners are in forbearance plans.