The 30-year fixed-rate mortgage averaged 6.73%, down from last week when it averaged 6.78%, Freddie Mac reported.
News in end use
Private Sector Job Cuts Decline Further in July
US-based employers announced 25,885 job cuts in July, down from 48,786 in June, Challenger, Gray & Christmas reported.
US Weekly Initial Jobless Claims Increase in the Week Ending July 27th
The advance figure for seasonally adjusted initial employment claims was 249,000, an increase of 14,000 from the previous week’s unrevised level.
US Pending Home Sales Increase 4.8% in June
The NAR Pending Homes Sales Index increased 4.8% month-over-month to a reading of 74.3. Year-over-year, pending homes sales were down 2.6%.
US Construction Sector Job Openings Fall in June
The number of open construction sector jobs shifted notably lower, falling from 366,000 positions in May to 295,000 positions in June, the BLS and NAHB reported.
Mortgage Applications Decline in the Week Ending July 26th
Mortgage loan application volume decreased 3.9% on a seasonally adjusted basis from one week earlier, MBA reported.
Private Sector Employment Increases While Compensation Growth Slows in July, ADP® Reports
Private sector employment increased by 122,000 jobs in July, ADP reported. Year-over-year, compensation was up 4.8%.
Canadian Real GDP Increases 0.2% in May
Real GDP grew 0.2% in May, following a 0.3% increase in April. Goods-producing industries were up 0.4% and were the main contributor to the overall growth.
FHFA Home Price Index Unchanged Month-Over-Month but Up Year-Over-Year in May
US house prices, seasonally adjusted, remained stable in May. Year-over-year, prices rose 5.7%. The previously reported 0.2% price increase in April was revised upward to 0.3%.
S&P CoreLogic Case-Shiller US National Home Price Index Reports 5.9% Annual Gain in May
The Index, covering all nine US census divisions, posted an annual gain of 5.9%, down from a 6.3% gain in April.