News in end use

Delinquency rates overall for mortgages backed by commercial properties were unchanged in Q1, the MBA reported.

The advance figure for seasonally adjusted initial unemployment claims was 212,000, unchanged from the previous week’s revised level.

The median monthly housing payment hit an all-time high of $2,747 during the four-week period ending April 7th, Redfin reported.

The Fannie Mae Home Price Index increased 7.4% year-over-year in Q1, up from 6.6% in 2023Q4.

Mortgage loan application volume increased 3.3% on a seasonally adjusted basis from one week earlier, the MBA reported.

Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,321,000. This is 14.7% below the revised February estimate of 1,549,000.

The monthly seasonally adjusted annual rate of housing starts in Canada declined 7% to 242,195 units in March, down from 260,047 in February.

The Mortgage Bankers Association Builder Application Survey increased 1.0% month-over-month and 6.2% year-over-year in March.

In March, the Canadian Consumer Price Index (CPI) increased 2.9% year-over-year. This follows a 2.8% gain in February.

The National Association of Home Builders/Wells Fargo Housing Market Index held steady at a reading of 51 in April.