Housing starts in March were at a seasonally adjusted annual rate of 1,324,000, 11.4% below the revised February estimate of 1,494,000.
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US Homes Selling at Slowest Pace in Six Years
The typical US home that went under contract in March spent 47 days on the market, the longest for any March since 2019, Redfin reported.
US Mortgage Rates Climb in the Week Ending April 17
The 30-year fixed-rate mortgage averaged 6.83%, up from last week when it week when it averaged 6.62%, Freddie Mac reported.
US Weekly Initial Jobless Claims Decline in the Week Ending April 12
The advance figure for seasonally adjusted initial unemployment claims was 215,000, a decrease of 9,000 from the previous week’s revised total.
Canadian Unemployment Increases in February
The number of Canadians receiving regular Employment Insurance benefits rose 2.5% in February, an increase of 12,000 people.
US Builder Confidence Continues to Reflect Economic Uncertainty and Elevated Material Costs
The NAHB/Wells Fargo Housing Market Index revealed that builder sentiment in the market for newly built single-family homes rose to 40 in April, up one point from March.
Bank of Canada Holds Interest Rates Steady Amid Trade Uncertainty
The Bank of Canada left its benchmark interest rate unchanged as it awaits a clearer picture of how global trade uncertainty will impact Canada, the Canadian Press reported.
ABC Backlog Indicator Rises in March, Already Reflecting Tariff Impacts
The ABC Construction Backlog Indicator increased to 8.5 months, up 0.3 months from a year ago.
Mortgage Applications Decline in the Week Ending April 11
Mortgage loan application volume decreased 8.5% on a seasonally adjusted basis from one week earlier, MBA reported.
Fannie Mae Panel Expects Slower Home Price Growth in 2025 and 2026
A panel of more than 100 housing experts forecasts home price growth to average 3.4% in 2025 and 3.3% in 2026, Fannie Mae reported.