The LIRA forecasts annual growth in homeowner remodeling spending will slow to 0.5% by 2027Q1, with total expenditures reaching about $523 billion.
News in end use
US Job Openings and Labor Turnover Summary for March
US job openings were little changed at 6.9 million in March, while hires rose to 5.6 million and separations held at 5.4 million.
US Housing Share of GDP Falls Below 16% in Q1
US housing’s share of GDP fell to 15.9% in Q1, dropping below 16% for the first time since 2019, the BEA and NAHB reported.
US Mortgage Application Payment Index Rises in March
The national median mortgage payment was $2,131 in March, up from $2,061 in February, MBA reported.
US Personal Income and Outlays Rise in March
Personal income rose 0.6% and personal consumption expenditures increased 0.9% in March. The PCE price index advanced 3.5% year-over-year.
Canadian Payroll Employment Falls in February
Canadian payroll employment fell 0.3% in February, while job vacancies held steady at 497,200, with 3.1 unemployed persons per opening.
US Real GDP Increases at an Annual Rate of 2.0% in Q1, BEA Reports in Its “Advance” Estimate
US real GDP grew at an annual rate of 2.0% in Q1, according to the BEA’s “advance” estimate. In 2025Q4, real GDP increased 0.5%.
The Conference Board US Leading Economic Index Declines in March
The Conference Board Leading Economic Index declined 0.6% in March to 97.3, following a 0.3% increase in February.
Bank of Canada Holds Policy Rate at 2.25%
The Bank of Canada held its policy rate at 2.25%, citing volatile financial conditions, higher energy prices, and ongoing uncertainty tied to geopolitical risks.
US Mortgage Rates Increase in the Week Ending April 30
The 30-year fixed-rate mortgage averaged 6.30%, up from 6.23% the previous week, Freddie Mac reported.