The advance figure for seasonally adjusted initial unemployment claims was 212,000, a decrease of 8,000 from the previous week.
News in end use
Canadian Home Sales Increase 3.7% Month-Over-Month in January
Home sales recorded over Canadian MLS® Systems posted a 3.7% increase between December and January, CREA reported.
Real Estate Investors Purchased 26.1% of Low-Priced US Homes Sold in 2023Q4
Real estate investors purchased 26.1% of low-priced US homes that sold in 2023Q4, the highest share on record, Redfin reported.
Associated Builders and Contractors Construction Backlog Indicator Trends Lower in January
The Associated Builders and Contractors Construction Backlog Indicator declined to 8.4 months in January, down from 8.6 months in December.
Mortgage Applications Decline in the Week Ending February 9th
Mortgage loan application volume decreased 2.3% on a seasonally adjusted basis from one week earlier, the MBA reported.
Consumer Price Index Increases 0.3% in January; All-Item Index Up 3.1% Year-Over-Year
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in January on as seasonally adjusted basis.
Commercial and Multifamily Borrowing Down 25% Year-Over-Year in 2023Q4
Commercial and multifamily mortgage loan originations were 25% lower in 2023Q4 when compared to 2022Q4, the MBA reported.
NFIB Small Business Optimism Index Trends Lower to Start 2024
The National Federation of Independent Business Small Business Optimism Index declined 2.0 points to a reading of 89.9 in January.
Mortgage Delinquencies Grow in 2023Q4
The delinquency rate for mortgage loans on 1–4-unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of Q4, the MBA reported.
Lending Standards Loosened for Commercial and Residential Real Estate Loans in 2023Q4
Lending standards loosened for all commercial real estate loan and residential real estate categories in Q4, an NAHB review of the Fed’s Senior Loan Officer Opinion Survey shows.