The EU will launch its first countermeasures next week in response to US tariffs, joining China and Canada in escalating the global trade conflict, Reuters reported.
News in end use
Mortgage Applications Increase in the Week Ending April 4
Mortgage loan application volume increased 20.0% on a seasonally adjusted basis from one week earlier, MBA reported.
FEA: Implications of the New Tariffs on the US Economy and Wood Products Sector
Analysis from FEA’s Brendan Lowney: “New Tariffs Will Have Massive Effects on the US Economy; North American Wood Products Sector Will See Few Direct Effects”
MBA Mortgage Credit Availability Index Increases for Fourth Consecutive Month in March
The MBA Mortgage Credit Availability Index (MCAI) rose 2.5%, reaching a reading of 102.9 in March.
As More US Multifamily Units Are Absorbed, Rental Market Fundamentals Stabilize
US apartment demand was well above average in Q1, helping to push market fundamentals back toward more typical levels, RealPage Market Analytics reported.
NFIB Small Business Optimism Index Retreats for Third Consecutive Month in March
The NFIB Small Business Optimism Index declined 3.3 points to 97.4 in March, slipping just below the 51-year average of 98.
US Construction Sector Employment Holds Steady in March
Employment in the construction sector increased by 13,000 in March, following a gain of 14,000 in February, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 228,000 in March; Unemployment Ticks Up to 4.2%
Total nonfarm payroll employment increased by 228,000 in March, higher than the average monthly gain of 158,000 over the prior 12 months.
Canadian Employment Declines and Unemployment Rises in March
Employment declined by 33,000 (0.2%) in March, the first decrease since January 2022.
Typical US Homebuyer’s Monthly Payment Hits New Record High for Second Consecutive Week
The typical US homebuyer’s monthly payment hit a record high, reaching $2,802 during the four-week period ending March 30, Redfin reported.