The 30-year fixed-rate mortgage averaged 7.10%, up from last week when it averaged 6.88%, Freddie Mac reported.
News in end use
US Existing-Home Sales Decline Month-Over-Month and Year-Over-Year in March
US existing-home sales fell 4.3% month-over-month in March to a seasonally adjusted annual rate of 4.19 million, NAR reported.
The Conference Board US Leading Economic Index® Declines Unexpectedly in March
The Conference Board Leading Economic Index® (LEI) decreased 0.3% in March, following a 0.2% increase in February.
Delinquency Rates on Mortgages Backed by Office Properties Continue to Rise in Q1
Delinquency rates overall for mortgages backed by commercial properties were unchanged in Q1, the MBA reported.
US Weekly Jobless Claims Unchanged in the Week Ending April 13th
The advance figure for seasonally adjusted initial unemployment claims was 212,000, unchanged from the previous week’s revised level.
US Median Monthly Housing Payment Reaches All-Time High
The median monthly housing payment hit an all-time high of $2,747 during the four-week period ending April 7th, Redfin reported.
Fannie Mae Home Price Index Moves Higher Quarter-Over-Quarter and Year-Over-Year in Q1
The Fannie Mae Home Price Index increased 7.4% year-over-year in Q1, up from 6.6% in 2023Q4.
Mortgage Applications Increase in the Week Ending April 12th
Mortgage loan application volume increased 3.3% on a seasonally adjusted basis from one week earlier, the MBA reported.
US Housing Starts, Building Permits, and Completions All Decline in March
Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,321,000. This is 14.7% below the revised February estimate of 1,549,000.
Canadian Housing Starts Decline in March
The monthly seasonally adjusted annual rate of housing starts in Canada declined 7% to 242,195 units in March, down from 260,047 in February.