Mortgage loan application volume fell 1.8% on a seasonally adjusted basis, MBA reported, marking the third straight weekly decline.
News in end use
US Custom Single-Family Home Share Declines Again in 2024
Custom homes made up 17.5% of US single-family starts in 2024, down from 18.8% in 2023, the Census Bureau and NAHB reported.
Value of Canadian Building Permits Declines in August
The total value of Canadian building permits fell 1.2% to CA$11.6 billion in August, with residential intentions down 2.4% and nonresidential up 0.8%.
NFIB Small Business Optimism Index Falls in September
The NFIB Small Business Optimism Index fell 2.0 points to 98.8 in September, the first decline in three months but above the 52-year average.
US Senate Passes Bipartisan Road to Housing Act
The US Senate passed the bipartisan ROAD to Housing Act within its defense bill, aiming to expand housing supply, reduce barriers, and promote homeownership.
University of Michigan Releases Preliminary Results of Its Consumer Sentiment Index for October
The University of Michigan Index of Consumer Sentiment fell to 55.0 in October, down 0.2% from September and 22.0% lower than a year ago.
Canadian Employment Rises by 60,000 in September; Unemployment Holds at 7.1%
The unemployment rate held steady at 7.1% in September, following a 0.2 percentage point increase in August. Since the start of 2025, the unemployment rate has risen by 0.5 percentage points.
US Remodeling Market Sentiment Improves in Q3
The NAHB Remodeling Market Index rose one point to 60 in Q3, signaling steady confidence despite cost pressures and economic uncertainty.
US Mortgage Credit Availability Rises in September
The MBA Mortgage Credit Availability Index rose 0.4% to 104.4 in September.
US Mortgage Rates Trend Lower in the Week Ending October 9
The 30-year fixed-rate mortgage averaged 6.30%, down from 6.34% the previous week, Freddie Mac reported.