Statistics Canada (StatsCan) reported today (8-16-21) that following two successive months of declines, manufacturing sales rose 2.1% to $59.2 billion (CAD) in June. However, following six consecutive monthly gains, wood product sales fell -5.7% to $5.1 billion in June, on lower volumes and prices.
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University of Michigan Index of Consumer Sentiment Posts Sharp Declines in Preliminary August Results
The University of Michigan today (Friday 8-13-21), released its preliminary Consumer Sentiment Index (CSI) for August. The Index of Consumer Sentiment dropped to a reading of 70.2 in August, down from 81.2 in July, a month-over-month decline of -13.5% and -5.3% year-over-year (74.1 in August 2020).
Despite Lumber Pricing Decline – Overall Building Materials Pricing Continue to Climb
According to the latest Bureau of Labor Statistics July Producer Price Index (PPI), with analysis provided by the National Association of Home Builders (NAHB), prices paid for goods used in residential construction, less energy, rose 0.2% in July, after rising 3.0% in June (not seasonally adjusted).
Mortgage Credit Availability Increased in July
The Mortgage Banker Association (MBA) on Thursday (8-12-21), released their Mortgage Credit Availability Index (MCAI), that analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for July. According to the MCAI rose by 0.3% to 119.1 in July.
Lower Lumber and Wood Product Pricing Limits Canadian Industrial Price Index Increases
Statistics Canada (StatCan) today (8-13-21) released its Flash Estimate for July 2021, Industrial Product Price Index (IPPI). The IPPI edge up 0.1% month-over-month in July and is up 16.2% year-over-year.
Investment in Building Construction in Canada Drops in June
Statistics Canada (StatsCan) reported today (8-12-21) that investment in building construction in Canada declined -4.5% to $18.4 billion (CAD) in June. Investments in both residential and non-residential construction investment were down.
Producer Price Index for Final Demand Increases 1.0% in July
The Bureau of Labor Statistics (BLS) reported today (8-12-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.0% in July. Final demand prices rose 1.0% in June, 0.8% in May, 0.6% in April, 1.0% in March and 0.5% in February.
Mortgage Rates Rise Ten Basis Points in the Week Ending August 12, 2021
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 12, 2021. The PMMS reports that 30-year fixed-rate mortgage averaged 2.87% percent with an average 0.7 point, up from last week when it averaged 2.77%. A year ago, at this time, the 30-year FRM averaged 2.96%.
Weekly Jobless Claims Continued to Decline in the Week Ending August 7, 2021
The U.S. Department of Labor is reporting that an additional 375,000 Americans made their initial filing for unemployment benefits during the week ending on Saturday, August 7, 2021 — a decrease of 12,000 from the previous week’s revised level.
Home Buyers and Sellers Have Differing Views in Latest Fannie Mae Home Purchase Sentiment Survey
The Fannie Mae Home Purchase Sentiment Index®(HPSI), which reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis, decreased 3.9 points to a reading of 75.8 in July. This occured as consumers continue to report concerns related to high home pries and a lack of homes for sale.