The number of loans in forbearance as of April 30th remained unchanged from March, holding at 0.22% of servicers’ portfolio volume, MBA reported.
News in end use
Canadian Housing Starts Decline 1.0% Month-Over-Month in April
The seasonally adjusted annual rate for housing starts in Canada decreased 1.0% in April to 240,229 units, down from 242,267 units in March, CMHC reported.
Investment in Canadian Building Construction Up 4.5% in March
Investment in building construction increased 4.5% month-over-month to $20.4 billion (CAD) in March.
Single-Family Built-For-Rent Starts Expand 20% Year-Over-Year in Q1
There were approximately 18,000 single-family built-for-rent starts during Q1, 20% higher than 2023Q1, the Census Bureau and NAHB reported.
The Conference Board US Leading Economic Index Continues to Decline in April
The Conference Board Leading Economic Index® decreased by 0.6% to 101.8 (2016=100) in April, following a 0.3% decrease in March.
State-Level Analysis of Construction Sector Employment for April
28 states reported month-over-month employment gains in April, the BLS and NAHB reported.
US Housing Starts and Completions Climb in April, but Permits Decline
Privately‐owned housing starts in April were at a seasonally adjusted annual rate of 1,360,000, 5.7% above the revised March estimate of 1,287,000.
Fixed-Rate Mortgages Fall in the Week Ending May 16th—Second Consecutive Drop
The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%, Freddie Mac reported.
US Mortgage Delinquency Rate Up Quarter-Over-Quarter and Year-Over-Year
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.94% of all loans outstanding at the end of Q1, MBA reported.
US Weekly Jobless Claims Decline in the Week Ending May 11th
The advance figure for seasonally adjusted initial unemployment claims was 222,000, a decrease of 10,000 from the previous week.