News in end use

Overall, the construction industry added a net 21,000 jobs in May, and 26 states reported month-over-month employment gains, the BLS and NAHB reported.

Mortgage loan application volume increased 0.8% on a seasonally adjusted basis from one week earlier, MBA reported.

According to the FHFA HPI, US house prices increased 0.2% month-over-month in April, seasonally adjusted. Year-over-year, house prices climbed 6.3%.

The S&P CoreLogic Case-Shiller US National Home Price NSA Index reported an annual gain of 6.3% in April, following a 6.5% gain in March.

The Conference Board Consumer Confidence Index® (CCI) declined to a reading of 100.4 (1985=100) in June, down from 101.3 in May.

The total number of loans in forbearance as of May 31st was 0.21% of servicers’ portfolio volume, according to the Mortgage Bankers Association.

The Canadian Consumer Price Index (CPI) increased 2.9% year-over-year in May, up from a 2.7% gain in April.

Freddie Mac expects the US economy to continue to cool as consumers adjust their spending in response to higher interest rates.

Affordability constraints continue to limit the number of buyers willing and able to make home purchases, even as listing of for-sale homes are on the rise, the ESR Group said.

To comfortably afford a typical US home, a home buyer making the median income needs to put down nearly $127,750, according to Zillow.