News in end use

The advance figure for seasonally adjusted initial unemployment claims was 210,000, a decrease of 2,000 from the previous week.

The Federal Reserve announced it was holding interest rates steady and made no changes to its forecast that it will be necessary to cut rates three times in 2024, Yahoo Finance reported.

Mortgage loan application volume declined 1.6% on a seasonally adjusted basis from one week earlier, the MBA reported.

The Redfin Home Price Index showed that US home prices climbed 0.6% month-over month in February, on par with the average gain in the years leading up to the pandemic.

In 2023Q4, job vacancies in Canada fell by 3.6%, or 25,400, to 678,500. The job vacancy rate decreased 0.1 percentage point to 3.8%.

Privately‐owned housing starts in February were at a SAAR of 1,521,000, 10.7% above the revised January estimate of 1,374,000.

According to the ESR Group, the increase in mortgage rates in February has driven a modest downgrade to expectations for total home sales and mortgage originations in 2024.

Mortgage applications for new home purchases increased 1.0% month-over-month and 15.7% year-over-year in February, the MBA reported.

The Canadian Consumer Price Index (CPI) increased 2.8% year-over-year in February, down marginally from a 2.9% gain in January.

New listing of existing homes increased 3.8% month-over-month on a seasonally adjusted basis in February, Redfin reported.