US homebuyers needed to earn $75,849 annually to afford the typical starter home, up 8.2%, or $5,767, from February 2023.
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US Mortgage Application Payments Trend Higher in February
The national medium payment applied for by applications increased 2.4%, from $2,134 in January to $2,184 in February, the MBA reported.
US Median Existing-Home Down Payment Up 24.1% Year-Over-Year in February
The median down payment for homebuyers was $55,640 in February, up 24.1% from $44,850 a year earlier, Redfin reported.
Canadian Real GDP Increases 0.6% in January
Canadian real GDP grew 0.6% in January, led by a rebound in educational services following the resolution of the public sector strikes in Quebec.
US Pending Homes Sales Increase Month-Over-Month in February, but Remain Lower Year-Over-Year
The National Association of Realtors Pending Homes Sales Index was 1.6% higher month-over-month in February.
US Fixed-Rate Mortgages Inch Lower in the Week Ending March 28th
The 30-year fixed-rate mortgage averaged 6.79%, down from last week when it averaged 6.87%, Freddie Mac reported.
US Weekly Jobless Claims Decline in the Week Ending March 23rd
The advance figure for seasonally adjusted initial claims was 210,000 during the week ending March 23rd, a decrease of 2,000.
US Real GDP Increases at an Annual Rate of 3.4% in 2023Q4, BEA Reports in Its “Third” and Final Estimate
Real GDP increased at an annual rate of 3.4% in Q4, following a reported increase of 4.9% in Q3.
University of Michigan Reports Final Results of Its Consumer Sentiment Index for March
The University of Michigan’s Index of Consumer Sentiment rose to a reading of 79.4, up from 76.9 in February.
Canada Mortgage and Housing Corporation Releases 2023 New Home Construction Recap
According to CMHC, new-home construction in Canada’s 6 largest census metropolitan areas recorded 137,915 housing starts in 2023.