The Fannie Mae Home Purchase Sentiment Index increased 1.1 points to a reading of 69.2 in April.
News in end use
Federal Reserve Holds Interest Rates Steady
The US Federal Reserve decided to hold its key interest rate unchanged as it waits for the Trump administration’s trade policy to take shape and sees its impact, CNBC reported.
Mortgage Applications Climb in the Week Ending May 2
Mortgage loan application volume increased 11.0% on a seasonally adjusted basis from one week earlier, MBA reported.
US New-Home Prices Fall in Q1 While Existing-Home Prices Rise
The median price for a new single-family home sold in Q1 was $416,900, according to the Census Bureau, NAR, and NAHB.
US Labor Costs Increase Modestly in Q1
US labor costs increased moderately in Q1 as economic uncertainty caused by tariffs cools demand for labor, Reuters reported.
US Building Permits for Multifamily Construction Fall Below Pre-Pandemic Levels
Developers obtained permits to build 12.4 multifamily housing units for every 10,000 people in the US over the past year, Redfin reported.
US Construction Employment Trends Higher in April
Employment in the construction sector increased by 11,000 jobs in April, following a downwardly revised gain of 7,000 in March, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 177,000 in April; Unemployment Steady at 4.2%
Total nonfarm payroll employment increased by 177,000 in April, closely aligned with the average monthly gain of 152,000 over the prior 12 months.
US Construction Spending Declines in March
Construction spending in March was estimated at a seasonally adjusted annual rate of $2,196.1 billion, down 0.5% from the revised February estimate.
US Mortgages Rates Continue to Inch Lower in the Week Ending May 1
The 30-year fixed-rate mortgage averaged 6.76%, down from last week when it averaged 6.81%, Freddie Mac reported.