The total number of loans in forbearance as of October 31st increased to 0.47% of servicers’ portfolio volume, up from 0.34% in September, MBA reported.
News in end use
US Housing Starts, Building Permits, and Completions Decline in October
Privately‐owned housing starts in October were at a seasonally adjusted annual rate of 1,311,000. This is 3.1% below the revised September estimate of 1,353,000.
US Mortgage Applications for New-Home Purchases Increase 3.0% in October
Mortgage applications for new-home purchases in October increased 3.0% month-over-month and 8.2% year-over-year, MBA reported.
Canadian Consumer Price Index Increases 2.0% Year-Over-Year in October
The Canadian Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September.
State-Level US Construction Employment Data for October
Construction employment increased in 33 states and the District of Columbia in October, the BLS and NAHB reported.
US Builder Confidence Moves Higher for Third Consecutive Month in November
The NAHB/Wells Fargo Housing Market Index was up 3 points from October, marking the third consecutive increase.
Canadian Housing Starts Increase 8% in October
Housing starts for all areas in Canada increased 8% month-over-month a SAAR of 223,391 units in September, CMHC reported.
Ontario Home Builders Expect Fewer Housing Starts and Deeper Supply Shortage in 2025
According to the Residential Construction Council of Ontario, housing starts will likely weaken and the supply shortage could get even worse, Ontario Construction News reported.
US Existing-Home Sales Post Largest Monthly Increase in Nearly Three Years
Existing-home sales in October rose 1.6% month-over-month, the largest gain since January 2022, Redfin reported.
US Building Materials Costs Decrease 0.2% in October
The goods component increased 0.7% over the year, while services decreased 0.4%.