Mortgage loan application volume increased 15.6% on a seasonally adjusted basis from one week earlier, MBA reported.
News in end use
Total Value of Canadian Building Permits Increases 20.5% Month-Over-Month in April
The total value of building permits in Canada increased 20.5% month-over-month to $12.8 billion (CAD) in April.
Consumer Credit Growth Slows in Q1
Total outstanding US debt stood at $5.05 trillion in Q1, increasing at an annualized rate of 1.86% (seasonally adjusted), the Federal Reserve and NAHB reported.
US Asking Rents Crept Higher for Second Consecutive Month in May
The median US asking rent rose 0.8% year-over-year to $1,653 in May, the highest level since October 2022, Redfin reported.
NFIB Small Business Optimism Index Trends Higher in May but Remains Below 50-Year Average
The National Federation of Independent Business Small Business Optimism Index increased 0.8 points in May to a reading of 90.5 but remained below the 50-year average of 98.0.
FHFA All-Transactions House Price Index Posts 6.3% Year-Over-Year Increase in Q1
According to the Federal Housing Finance Agency’s all-transactions House Price Index, US house prices increased 6.3% between 2023Q1 and Q1.
Bloomberg Nanos Canadian Consumer Index Reaches Highest Level in Over Two Years
The index rose to a reading of 54 last week, the highest level since May 2022. Over the last month, the index has gained 3 points.
Fannie Mae’s Home Purchase Sentiment Index Falls Again in May
The May HSPI decreased 2.5 points to 69.4 as the component measuring consumer attitudes toward homebuying conditions fell markedly, reaching an all-time survey low.
Nonresidential Employment Leads the Construction Sector Higher in May
Residential construction gained 3,500 jobs, and nonresidential construction employment added 17,100 jobs, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 272,000 in May; Unemployment Increases to 4.0%
Total nonfarm payroll employment increased by 272,000 in May. This is above the average monthly gain of 232,000 over the prior 12 months.