The total number of loans in forbearance as of January 31st decreased by 1 basis point to 0.22% of servicers’ portfolio volume, the MBA reported.
News in end use
US Single-Family Built-For-Rent Sector Experiences Strong 2023Q4 Results
Single-family built-for-rent starts totaled 22,000 units in 2023Q4, 29% higher than 2022Q4, the Census Bureau and NAHB report.
Increases in the Canadian Consumer Price Index Slow in January
The Canadian Consumer Price Index (CPI) increased 2.9% year-over-year in January, following a 3.4% gain in December.
The Conference Board US Leading Economic Index® Moves Lower in January
The Conference Board Leading Economic Index® declined 0.4% in January to a reading of 102.7 (2016=100), following a 0.2% decline in December.
US Residential Building Materials Costs Climb Higher in January
Inputs to residential construction (goods less food and energy, not seasonally adjusted) increased 1.28% month-over-month in January, the BLS and NAHB reported.
Canadian Industrial Product and Raw Materials Price Indexes Show Mixed Results in January
The Industrial Product Price Index (IPPI) declined 0.1% month-over-month and 2.9% year-over-year in January.
US Existing-Home Sales Market Slows in January as Mortgage Rates Hold Steady
New listings dropped 1.2% month-over-month in January (seasonally adjusted), Redfin reported.
US Townhouse Starts Climb 27% Year-Over-Year in 2024Q4
Single-family attached starts totaled 47,000 units in 2023Q4, a 27% increase from 2022Q4, the Census Bureau and NAHB reported.
US Housing Starts, Building Permits, and Completions All Decline Month-Over-Month in January
Privately‐owned housing starts in January were at a SAAR of 1,331,000, 14.8% below the revised December estimate.
Mortgage Applications for New-Home Purchases Soar in January
Mortgage applications for new-home purchases increased 38.0% month-over-month and 19.1% year-over-year in January, the MBA reported.