News in end use

The 30-year fixed-rate mortgage averaged 6.72%, up from last week when it averaged 6.54%, Freddie Mac reported.

Personal income increased 0.3%; disposable personal income increased 0.3%; and personal consumption expenditures increased 0.5%.

The MBA Purchase Applications Payment Index decreased 0.8% to a reading of 157.9 in September, down from 159.2 in August.

Canadian real GDP was essentially unchanged in August, following a 0.1% increase in July.

US-based employers announced 55,597 job cuts in October, a 23.7% decrease from the 72,821 cuts announced in September, CG&C reported.

The advance figure for seasonally adjusted initial unemployment claims was 216,000, a decrease of 12,000 from the previous week’s revised level.

Real GDP increased at an annual rate of 2.8% in Q3, following an increase of 3.0% in Q2.

The NAR Pending Homes Sales Index increased 7.4% month-over-month to a reading of 75.8 in September.

The number of open construction sector jobs fell from a revised 328,000 in August to a softer 288,000 in September, NAHB reported.

Mortgage loan application volume decreased 0.1% on a seasonally adjusted basis from one week earlier, MBA reported.