The 30-year fixed-rate mortgage averaged 6.81%, up from last week when it averaged 6.76%, Freddie Mac reported.
News in end use
Canadian Existing-Home Sales Steady in April, Ending Three-Month Slide
This marks a pause in the trend of declining activity since the beginning of the year, CREA reported. The National Composite MLS Home Price Index declined 1.2%.
US Weekly Initial Jobless Claims Unchanged in the Week Ending May 10
The advance figure for seasonally adjusted initial unemployment claims was 229,000, unchanged from the previous week’s revised total.
Value of Canadian Building Permits Declines 4.1% in March
The value of building permits issued in Canada decreased by 4.1% to CA$12.9 billion in March. Residential construction intentions rose 2.0% to $8.7 billion.
US Mortgage Applications Trend Higher in the Week Ending May 9
Mortgage loan application volume increased 1.1% on a seasonally adjusted basis from one week earlier, MBA reported.
US Consumer Price Index Rises 2.3% Year-Over-Year in April
Over the 12 months ending in April, the all-items index rose 2.3%, down from a 2.4% increase over the prior 12-month period.
US Mortgage Delinquencies Trend Higher in Q1
The delinquency rate in Q1 was up 6 basis points from 2024Q4 and was up 10 basis points year-over-year, MBA reported.
NFIB Small Business Optimism Index Retreats in April
The NFIB Small Business Optimism Index declined 1.6 points to a reading of 95.8 in April.
US Asking Rents Post Sharpest Year-Over-Year Decline Since Early 2024
The median US asking rent fell 1% year-over-year to $1,625 in April, the largest decline since February 2024, Redfin reported.
US Consumer Credit Slows in Q1
Total outstanding consumer credit reached $5.01 trillion in Q1, an increase of 1.53% (SAAR) compared to the previous quarter, the Federal Reserve and NAHB reported.