The advance figure for seasonally adjusted initial claims was 214,000 during the week ending January 20th, an increase of 25,000 from the previous week.
News in end use
Mortgage Applications Climb in Week Ending January 19th, Marking Third Consecutive Increase
Mortgage loan application volume increased 3.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Mortgage Bankers Association Expects Commercial/Multifamily Borrowing and Lending to Increase in 2024
The Mortgage Bankers Association expects total commercial/multifamily borrowing and lending to rise to $576 billion in 2024, a 29% increase from 2023.
US Population Growth Returns to Pre-Pandemic Rate
The US resident population grew by 1.63 million in 2023 to total population of 334.91 million, the Census Bureau and NAHB reported.
Redfin Home Price Index Climbs 0.4% Month-Over-Month in December
The Redfin Home Price Index climbed 0.4% month-over-month in December—the smallest increase since June 2023. Year-over-year, prices increased 6.6%.
State-Level Analysis of US Construction Sector Employment in December
Across the 48 states reporting construction sector jobs data (both residential and nonresidential construction), 32 states saw month-over-month gains, BLS and NAHB reported.
Share of US Mortgage Loans in Forbearance Declines Further in December
The total number of loans in forbearance as of December 31st, 2023, decreased 3 basis points to 0.23% of servicers’ portfolio volume, MBA reported.
Canadian New Housing Price Index Down 0.9% Year-Over-Year in December
StatCan’s New Housing Price Index (NHPI) was unchanged month-over-month in December, but prices were 0.9% lower year-over-year.
US Homeowner Renovation and Maintenance Expenditures Expected to Weaken Through Q3
The Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University has released its quarterly Leading Indicator of Remodeling Activity (LIRA).
The Conference Board US Leading Economic Index® Declines Again in December
The Conference Board Leading Economic Index® (LEI) declined 0.1% in December to a reading of 103.1 (2016=100), following a decline of 0.5% in November.