The University of Michigan Index of Consumer Sentiment declined to a reading of 67.8 in February. This is a month-over-month decline of 4.6% and down 11.8% year-over-year.
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Canadian Employment Increases in January; Unemployment Trends Lower
Employment increased 0.4%, or 76,000 positions. The unemployment rate fell 0.1 percentage points to 6.6%.
US Mortgage Rates Fall for Second Consecutive Week in the Week Ending February 6
The 30-year fixed-rate mortgage averaged 6.89%, down from last week when it averaged 6.95%, Freddie Mac reported.
US Mortage Delinquency Rate Increases in Q4
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased in Q4, MBA reported.
US Weekly Initial Jobless Claims Increase in the Week Ending February 1
The advance figure for seasonally adjusted initial unemployment claims was 219,000, an increase of 11,000 from the previous week’s revised total.
Private Sector Job Cuts Increase Month-Over-Month in January
US-based employers announced 49,795 job cuts in January, a 28.0% increase from the 38,792 cuts announced in December, CG&C reported.
US Mortgage Applications Increase in the Week Ending January 31
Mortgage loan application volume increased 2.2% on a seasonally adjusted basis from one week earlier, MBA reported.
ADP® Reports Private Sector Employment and Compensation Both Increased in January
US private sector employment increased by 183,000 jobs in January, ADP reported. Meanwhile, compensation was up 5.7% year-over-year.
US Construction Labor Market Continues to Soften in December
The number of open construction sector jobs declined from a revised 272,000 in November to just 217,000 in December, the BLS and NAHB reported.
Canadian Building Construction Costs Increase in Q4
Residential building construction costs rose 0.8% in Q4, following a 0.9% increase in Q3. Nonresidential building construction costs also increased 0.8%.