The Industrial Product Price Index (IPPI) increased 0.8% on a monthly basis, following a 1.1% increase in February. Year-over-year, the IPPI posted a 0.5% decline.
News in end use
Canada’s New Housing Price Index Unchanged in March
The Canadian New Housing Price Index was unchanged month-over-month but down 0.4% year-over-year in March.
Canadian Investment in Building Construction Declines in February
Investment in Canadian building construction declined 1.1% month-over-month to $19.3 billion in February.
US Median Home Sales Price Increases 5% Year-Over-Year—Just Shy of All-Time High
The median price increased 5% year-over-year to $380,250, just $3,095 shy of the all-time high in June 2022.
State-Level Analysis of Construction Sector Employment for March
36 states and DC saw month-over-month gains in March, the BLS and NAHB reported. Overall, the industry added a net 39,000 jobs.
30-Year Fixed-Rate Mortgages Surpass 7%
The 30-year fixed-rate mortgage averaged 7.10%, up from last week when it averaged 6.88%, Freddie Mac reported.
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.