Total outstanding US consumer debt stood at $5.10 trillion for Q3, increasing at a seasonally adjusted annualized rate of 3.28%, the Fed and NAHB reported.
News in end use
Value of Canadian Building Permits Increases 11.5% in September
The total value of building permits in Canada increased $1.3 billion (CAD), or 11.5%, to $13.0 billion in September.
US Median Asking Rent Rises 0.2% Year-Over-Year in October
The median US asking rent barely moved in October, nudging up 0.2% year-over-year to $1,619, Redfin reported.
NFIB Small Business Optimism Index Trends Higher in October
The NFIB Small Business Optimism Index increased 2.2 points to a reading of 93.7 in October.
Canadian Government Turns to Mass Timber, 3D Printing, and Modular Construction to Speed Affordable Housing
Canada is turning to mass timber, 3D printing, and modular construction to fast-track affordable housing on its Atlantic coast, Wood Central reported.
Fannie Mae Home Purchase Sentiment Index Rises in October
The Fannie Mae Home Purchase Sentiment Index increased 0.7 points in October to a reading of 74.6, pushing the measure to its highest level since February 2022.
University of Michigan Reports the Preliminary Results of Its Consumer Sentiment Index for November
The Index of Consumer Sentiment increased to a reading of 73.0 in November, up 3.5% from October and up 19.1% year-over-year, the University of Michigan reported.
Commercial and Multifamily Mortgage Loan Originations Soar in Q3
Commercial and multifamily mortgage loan originations in Q3 increased 59% year-over-year and 44% when compared to Q2, MBA reported.
Canadian Labor Force Survey for October
Canadian employment was little changed in October, gaining 15,000 new positions, up 0.1%, following an increase of 47,000 in September, up 0.2%.
Federal Reserve Cuts Interest Rates by 0.25%
The Fed cut rates by 0.25%, taking note of a job market that has “generally eased” while inflation continues to move towards the bank’s 2% target.