Mortgage loan application volume increased 20.4% on a seasonally adjusted basis from one week earlier, MBA reported.
News in end use
ADP Reports Private Sector Employment and Compensation Both Increased in February
Private sector employment increased by 77,000 jobs in February, and annual compensation was up 4.7% year-over-year, ADP reported.
US Single-Family Construction Ends 2024 With Growth, While Multifamily Declines
The continued shortage of existing homes for sale has helped to keep new single-family construction growing across all regions, NAHB reported.
President Trump Confirms 25% Tariffs on Canadian and Mexican Imports Start March 4
Trump said on Monday that 25% tariffs on imports from Mexico and Canada would start Tuesday, March 4, the AP reported.
US Construction Spending Slips 0.2% in January
Total construction spending during January was at a seasonally adjusted annual rate of $2,192.5 billion, 0.2% below December.
US Commerce Secretary Says Tariffs on Canada and Mexico Will Begin March 4, But Rate May Change
Lutnick confirmed that tariffs on Canada and Mexico will start March 4, but said Trump will determine whether to stick with the planned 25% level, Reuters reported.
US Home-Purchase Agreements Fall Through at an Elevated Rate in January
41,000 home-purchase agreements fell through in January, equal to 14.3% of the homes that went under contract during the month, Redfin reported.
Canadian Real GDP Increases 0.6% in Q4
Real GDP increased 0.6% on a quarterly basis in Q4, after increasing 0.5% in Q3.
US Personal Income and Outlays for January
Personal income increased 0.9%, disposable personal income increased 0.9%, and personal consumption expenditures decreased 0.2%.
President Trump Says Tariffs on Canada, Mexico, and China Will Be Implemented on March 4
Posting on Truth Social, Trump said he plans to impose 25% tariffs on Canada and Mexico starting March 4, the AP reported.