The 30-year fixed-rate mortgage averaged 6.82%, up from last week when it averaged 6.79%, Freddie Mac reported.
News in end use
US Weekly Jobless Claims Increase in the Week Ending March 30th
The advance figure for seasonally adjusted initial unemployment claims was 221,000, an increase of 9,000.
Private Sector Job Cuts Continue to Climb Higher in March
US-based employers announced 90,309 job cuts in March, up 7% from the 84,638 cuts announced in February, Challenger, Gray & Christmas, Inc. reported.
Mortgage Applications Retreat for Fourth Consecutive Week in the Week Ending March 29th
Mortgage loan application volume declined 0.6% on a seasonally adjusted basis from one week earlier, the MBA reported.
ADP® Reports Private Sector Employment and Compensation Gains in March
Private sector employment increased by 184,000 jobs in March and annual pay was up 5.1% year-over-year, ADP reported.
Nonresidential Construction Spending Declines in February
US nonresidential construction spending declined for the second consecutive month in February, falling 0.1%, the Associated Builders and Contractors reported.
Construction Sector Employment Trends Higher in February
The construction labor market experienced a modest increase in job openings in February, the BLS and NAHB reported.
US Job Openings and Labor Turnover Summary for February
As of the last business day in February, the number of job openings changed little at 8.8 million. The job opening rate was unchanged for the third consecutive month at 5.3%.
US Construction Spending Declines Month-Over-Month but Rises Year-Over-Year in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $2,091.5 billion, 0.3% below the revised January estimate.
US First-Time Homebuyers in February Needed to Earn 8.2% More Than a Year Ago to Afford a Starter Home
US homebuyers needed to earn $75,849 annually to afford the typical starter home, up 8.2%, or $5,767, from February 2023.