The Mortgage Bankers Association reported that according to its latest Commercial Delinquency Report, commercial mortgage delinquencies increased in Q1.
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US Job Openings and Labor Turnover Summary for April
As of the last business day in April, the number of job openings was 8.1 million, little changed from the 8.5 million reported in March.
US Monthly Construction Spending Declines 0.1% Month-Over-Month in April
Total construction spending during April was estimated at a seasonally adjusted annual rate of $2,099.0 billion, 0.1% below the revised March estimate.
US Private Residential Construction Spending Inches Higher in April
Spending on private single-family construction crept 0.1% higher in April, the Census Bureau and NAHB reported. This marks the twelfth consecutive monthly increase.
Mortgage Application Payments Continue to Trek Higher in April
Homebuyer affordability declined further in April, with the national medium payment applied for by applicants increasing to $2,256, MBA reported.
US Personal Income and Outlays Data for April
Personal income increased 0.3% at a monthly rate in April; disposable personal income increased 0.2%; and personal consumption expenditures increased 0.2%.
Canadian GDP by Industry for March and Q1
Real GDP was essentially unchanged in March, following a 0.2% increase in February. Both goods-producing and services-producing industries were unchanged.
30-Year Mortgage Rate Climbs Back Above 7%
The 30-year fixed-rate mortgage averaged 7.03%, up from last week when it averaged 6.94%, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 1.3% in Q1, BEA Reports in Its “Second” Estimate
Real GDP increased at an annual rate of 1.3% in Q1, following an increase of 3.4% in 2023Q4.
Price Reductions on Existing US Homes For Sale Hit 18-Month High
In the four-week period ending May 26th, an average of 6.4% of home sellers cut their asking price, the highest share since November 2022, Redfin reported.