The Bank of Canada has reduced its target for the overnight rate by 50 basis points to 3.25%.
News in end use
US Consumer Price Index Increases 2.7% Year-Over-Year in November
The CPI increased 0.3% on a seasonally adjusted basis in November. This follows the previous four consecutive months increasing at a 0.2% rate.
US Asking Rents in November Fall to Lowest Level Since March 2022
The median US asking rent fell 0.7% year-over-year to $1,595 in November, the lowest level since March 2022, Redfin reported.
Mortgage Applications Increase in the Week Ending December 6th
Mortgage loan application volume increased 5.4% on a seasonally adjusted basis from one week earlier, MBA reported.
Mortgage Credit Availability Continues to Tighten in November
The MBA Mortgage Credit Availability Index declined 3.3% to a reading of 95.9 in November.
NFIB Small Business Optimism Index Reaches Highest Level Since June 2021
The NFIB Small Business Optimism Index increased 8.0 points to a reading of 101.7 in November, after remaining below the 50-year average reading of 98 for 34 months.
Fannie Mae’s Home Purchase Sentiment Index® Continues to Trend Higher in November
Fannie Mae on Monday (12-9-24), released its Home Purchase Sentiment Index® (HPSI) for November 2024. According to the report the […]
US Nonfarm Payroll Increases By 227,000 in November; Unemployment Ticks Up to 4.2%
Total nonfarm payroll employment increased by 227,000 in November. The unemployment rate increased to 4.2%.
University of Michigan Reports Preliminary Results of Its Consumer Sentiment Index for December
The University of Michiga Index of Consumer Sentiment increased to a reading of 74.0 in December, up from 71.8 in November. This is a month-over-month increase of 3.1% and up 6.2% year-over-year.
Canadian Employment and Unemployment Both Increase in November
Canadian employment increased 0.2%, or 51,000 jobs, in November. The employment rate held steady at 60.6%.