Mortgage loan application volume increased 7.9% on a seasonally adjusted basis from one week earlier, MBA reported.
News in end use
US Asking Rents Post Slowest Annual Growth Since 2020
US asking rents rose 1.8% year-over-year in March to $1,910, the slowest growth since 2020, as income gains begin to outpace rent increases, Zillow reported.
US Pending Home Sales Rise in March
Pending home sales rose 1.5% in March but were down 1.1% year-over-year, NAR reported.
US Home Prices Trend Higher in March
US home prices rose 0.1% in March on a seasonally adjusted basis, Redfin reported. This marked the third consecutive monthly increase.
Canadian Consumer Price Index Rises 2.4% Year-Over-Year in March
Canada’s CPI rose 2.4% year-over-year in March, up from a 1.8% increase in February.
Investment in Canadian Building Construction Declines in February
Building construction investment fell 2.1% to CA$23.0 billion in February. Year-over-year, investment was up 1.8%.
Canadian Housing Starts Fall in March
Canadian housing starts fell 6.0% in March to 235,852 units (SAAR), while the six-month trend declined 2.9% to 248,378 units, CMHC reported.
US Single-Family Rent Growth Slows in February
US single-family rents rose 1.1% year-over-year in February, down from 2.6% a year earlier, as rent growth slowed across price tiers, Cotality reported.
US Construction Input Prices Rise in March as Energy Costs Surge
Construction input prices rose 3.8% year-over-year in March, as energy costs surged more than 20%, the BLS and NAHB reported.
US Mortgage Rates Fall in the Week Ending April 16
The 30-year fixed-rate mortgage averaged 6.30%, down from 6.37% the previous week, Freddie Mac reported.