News in end use

Mortgage loan application volume decreased 2.2% on a seasonally adjusted basis from one week earlier, MBA reported.

Existing-home sales declined 5.4% month-over-month in June to a seasonally adjusted annual rate of 3.89 million, NAR reported.

Home price growth in Q2 was stronger than previously anticipated but will likely moderate soon, closing 2024 and 2025 at annual rates of 6.1% and 3.0%, respectively, the ESR Group said.

the total number of loans in forbearance as of June 30th increased to 0.23% of servicers’ portfolio volume, up from 0.21% in May, MBA reported.

Redfin recently reported that the typical US homebuyer’s monthly housing payment was $2,722 during the four weeks ending July 14th, approximately $115 lower than April’s all-time high.

464,000 Canadians received regular Employment Insurance (EI) benefits in May. This is up 1.9%, or 8,700, from April.

Prices for pulp and paper products increased 1.7% on a monthly basis in June, mainly due to higher prices for wood pulp—up 2.9%.

The RMI for Q2 posted a reading of 65, down one point when compared to Q1. The index remains solidly in positive territory.

Investment in building construction edged up 0.8% month-over-month to $20.8 billion (CAD) in May, rebounding from a 2.0% decrease in April.

The FNM-HPI shows single-family home prices increased 6.9%, down from the previous quarter’s upwardly revised annual growth rate of 7.3%.