News in end use

Home price growth in Q2 was stronger than previously anticipated but will likely moderate soon, closing 2024 and 2025 at annual rates of 6.1% and 3.0%, respectively, the ESR Group said.

the total number of loans in forbearance as of June 30th increased to 0.23% of servicers’ portfolio volume, up from 0.21% in May, MBA reported.

Redfin recently reported that the typical US homebuyer’s monthly housing payment was $2,722 during the four weeks ending July 14th, approximately $115 lower than April’s all-time high.

464,000 Canadians received regular Employment Insurance (EI) benefits in May. This is up 1.9%, or 8,700, from April.

Prices for pulp and paper products increased 1.7% on a monthly basis in June, mainly due to higher prices for wood pulp—up 2.9%.

The RMI for Q2 posted a reading of 65, down one point when compared to Q1. The index remains solidly in positive territory.

Investment in building construction edged up 0.8% month-over-month to $20.8 billion (CAD) in May, rebounding from a 2.0% decrease in April.

The FNM-HPI shows single-family home prices increased 6.9%, down from the previous quarter’s upwardly revised annual growth rate of 7.3%.

The 30-year fixed-rate mortgage averaged 6.77%, down from last week when it averaged 6.89%, Freddie Mac reported.

Mortgage applications for new home purchases decreased 16.0% month-over-month in June but were up 0.7% year-over-year, MBA reported.