The median US asking rent rose 1.1% year-over-year to $1,964 in January, the largest annual increase since March 2023, Redfin reported.
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Owens Corning Announces Acquisition of Masonite International Corporation for $3.9 Billion
Owens Corning and Masonite International Corporation have entered into an agreement under which Owens Corning will acquire all outstanding shares of Masonite for approximately $3.9 billion.
Mortgage Credit Availability Improves in January
The Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) increased 0.7% to a reading of 92.7 in January.
Canadian Employment Increases in January, but Lags Population Growth
Employment in Canada increased by 37,000 in January, following three consecutive months with little change.
30-Year Fixed-Rate Mortgages Inch Higher in the Week Ending February 8th
The 30-year fixed-rate mortgage averaged 6.64%, up from last week when it averaged 6.63%, Freddie Mac reported.
US Weekly Jobless Claims Decline in the Week Ending February 3rd
The advance figure for seasonally adjusted initial unemployment claims was 218,000, a decrease of 9,000 from the previous week’s revised level.
US Housing Affordability Remains Near Record Low in 2023Q4
In 2023Q4, just 37.7% of all new and existing homes sold were affordable to families earning the US median income of $96,300, NAHB reported.
Limited Housing Availability and Elevated Mortgage Rates Remain a Headwind to Homeownership
The US homeownership rate declined to 65.7%, a result of continuing tight housing supply and elevated mortgage interest rates, according to the Census Bureau and NAHB.
Fannie Mae’s January Home Purchase Sentiment Index Hits Highest Reading Since March 2022
Fannie Mae’s Home Purchase Sentiment Index® rose 3.5 points in January to a reading of 70.7. Year-over-year, the full HPSI is up 9.1 points.
Mortgage Applications Increase in the Week Ending February 2nd
Mortgage loan application volume increased 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.