The 30-year fixed-rate mortgage averaged 6.81%, down from last week when it averaged 6.83%, Freddie Mac reported.
News in end use
US Mortgage Application Payments Decrease in March
The national median payment applied for by purchase applicants fell from $2,205 in February to $2,173 in March, MBA reported.
US Weekly Initial Jobless Claims Climb in the Week Ending April 19
The advance figure for seasonally adjusted initial unemployment claims was 222,000, an increase of 6,000 from the previous week’s revised total.
US New Residential Single-Family Home Sales Rise 7.4% in March
New residential single-family home sales for March were at a SAAR of 724,000, 7.4% above the revised February rate.
Mortgage Applications Decline in the Week Ending April 18
Mortgage loan application volume declined 12.7% on a seasonally adjusted basis from one week earlier, MBA reported.
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.