The delinquency rate for mortgage loans on one-to-four-unit residential properties increased in Q4, MBA reported.
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US Weekly Initial Jobless Claims Increase in the Week Ending February 1
The advance figure for seasonally adjusted initial unemployment claims was 219,000, an increase of 11,000 from the previous week’s revised total.
Private Sector Job Cuts Increase Month-Over-Month in January
US-based employers announced 49,795 job cuts in January, a 28.0% increase from the 38,792 cuts announced in December, CG&C reported.
US Mortgage Applications Increase in the Week Ending January 31
Mortgage loan application volume increased 2.2% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment and Compensation Both Increased in January
US private sector employment increased by 183,000 jobs in January, ADP reported. Meanwhile, compensation was up 5.7% year-over-year.
US Construction Labor Market Continues to Soften in December
The number of open construction sector jobs declined from a revised 272,000 in November to just 217,000 in December, the BLS and NAHB reported.
Canadian Building Construction Costs Increase in Q4
Residential building construction costs rose 0.8% in Q4, following a 0.9% increase in Q3. Nonresidential building construction costs also increased 0.8%.
Poor Selling Conditions Weigh on Canadian Builder Sentiment
The CHBA Housing Market Index for Q4 showed that poor selling conditions are leading to a further decline in the sentiment of Canada’s homebuilding industry, the Journal of Commerce reported.
US Job Openings and Labor Turnover Summary for December
Job openings fell to 7.6 million by the end of December, a decrease of 556,000 from the previous month. Year-over-year, openings were down by 1.3 million.
US to Pause Tariffs on Canada and Mexico for 30 Days
President Trump announced he would pause implementation of tariffs on Mexico and Canada for 30 days, AP reported.