Real GDP increased at an annual rate of 2.8% in Q3, following an increase of 3.0% in Q2.
News in end use
US Pending Home Sales Increase 7.4% in September
The NAR Pending Homes Sales Index increased 7.4% month-over-month to a reading of 75.8 in September.
US Construction Employment Softens in September
The number of open construction sector jobs fell from a revised 328,000 in August to a softer 288,000 in September, NAHB reported.
Mortgage Applications Drop in the Week Ending October 25th, Marking Fifth Consecutive Drop
Mortgage loan application volume decreased 0.1% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment and Compensation Both Increased in October
Private sector employment increased by 233,000 jobs in October, ADP reported.
FHFA Home Price Index Increases 4.2% Annually in August
The FHFA Home Price Index increased 0.3% in August. Year-over-year, prices rose 4.2%.
US Census Bureau Residential Vacancies and Homeownership Report for Q3
National vacancy rates in Q3 were 6.9% for rental housing and 1.0% for homeowner housing.
S&P CoreLogic Case-Shiller US National Home Price Index Reports 4.2% Annual Gain in August
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 4.2% in August, down from a 4.8% increase in July.
Higher Mortgage Rates Are Reducing Homebuyers’ Purchasing Power
A homebuyer on a $3,000 monthly budget has lost $33,250 in purchasing power over the last six weeks, with the daily average 30-year fixed mortgage rate rising to 7% on October 28th, Redfin reported.
US Job Openings and Labor Turnover Summary for September
As of the last business day in September, the number of job openings was 7.4 million. Year-over-year, the measure was down 1.9 million. The job openings rate was 4.5%, little changed from 4.8% in August.