Mortgage loan application volume declined 12.7% on a seasonally adjusted basis from one week earlier, MBA reported.
News in end use
Canadian Industrial Product and Raw Materials Price Indexes for March
Prices for lumber and other wood products rose 3.1% March, following two months of declines.
US Home Price Growth Slows to Lowest Monthly Rate Since December 2022
US home prices ticked up 0.2% in March on a seasonally adjusted basis, the slowest monthly pace since December 2022, Redfin reported.
Investment in Canadian Building Construction Increases 1.5% in February
Investment in building construction rose 1.5% to C$22.4 billion in February, with gains recorded across all components.
US Mortgage Loans in Forbearance Trend Lower in March
As of March 31, the total number of loans in forbearance declined 2 basis points from 0.38% of servicers’ portfolio volume in the prior month to 0.36%, MBA reported.
The Conference Board US Leading Economic Index Continues to Fall in March
The Conference Board Leading Economic Index declined 0.7% to 100.5 in March, after a revised decline of 0.2% (originally 0.3%) in February.
US Home Sellers Gave Concessions in 44% of Sales in Q1
US home sellers gave concessions to buyers in 44.4% of home-sale transactions in Q1, Redfin reported.
US Single-Family Home Price Growth Holds Steady in Q1
The Fannie Mae Home Price Index increased 5.2% year-over-year in Q1, largely unchanged from the previous quarter’s 5.3% growth.
State-Level Construction Employment Data for March
30 states added construction jobs in March compared to February, the BLS and NAHB reported. Nationally, the construction industry added a net 13,000 jobs.
US New-Home Purchase Mortgage Applications Increase in March
Mortgage applications for new-home purchases increased 14.0% in March, MBA reported. Year-over-year, mortgage applications increased 5.5%.