Spending on private single-family construction crept 0.1% higher in April, the Census Bureau and NAHB reported. This marks the twelfth consecutive monthly increase.
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Mortgage Application Payments Continue to Trek Higher in April
Homebuyer affordability declined further in April, with the national medium payment applied for by applicants increasing to $2,256, MBA reported.
US Personal Income and Outlays Data for April
Personal income increased 0.3% at a monthly rate in April; disposable personal income increased 0.2%; and personal consumption expenditures increased 0.2%.
Canadian GDP by Industry for March and Q1
Real GDP was essentially unchanged in March, following a 0.2% increase in February. Both goods-producing and services-producing industries were unchanged.
30-Year Mortgage Rate Climbs Back Above 7%
The 30-year fixed-rate mortgage averaged 7.03%, up from last week when it averaged 6.94%, Freddie Mac reported.
US Real GDP Increases at an Annual Rate of 1.3% in Q1, BEA Reports in Its “Second” Estimate
Real GDP increased at an annual rate of 1.3% in Q1, following an increase of 3.4% in 2023Q4.
Price Reductions on Existing US Homes For Sale Hit 18-Month High
In the four-week period ending May 26th, an average of 6.4% of home sellers cut their asking price, the highest share since November 2022, Redfin reported.
US Pending Home Sales Drop 7.7% in April
The National Association of Realtors Pending Homes Sales Index fell 7.7% month-over-month, dropping to a reading of 72.3.
US Weekly Jobless Claims Edge Higher in the Week Ending May 25th
The advance figure for seasonally adjusted initial unemployment claims was 219,000, an increase of 3,000 from the previous week.
Canadian Payroll Employment and Job Vacancies Data for March
The number of employees receiving pay and benefits increased 0.3% in March, or 51,400 positions, following an increase of 0.1%, or 14,600, in February.