Nationally, the index rose 0.2% year-over-year in September compared with an annual decline of 1.0% in September 2023.
News in end use
University of Michigan Reports the Final Results of Its Consumer Sentiment Index for October
The University of Michigan Index of Consumer Sentiment increased 0.6% to a reading of 70.5 in October.
US New Residential Single-Family Home Sales Increase 4.1% in September
New residential single-family home sales for September were at a seasonally adjusted annual rate of 738,000, 4.1% above the revised August rate.
US Mortgage Rates Move Higher for the Fourth Consecutive Week
The 30-year fixed-rate mortgage averaged 6.54%, up from last week when it averaged 6.44%, Freddie Mac reported.
US Weekly Initial Jobless Claims Continue to Decline in the Week Ending October 19th
The advance figure for seasonally adjusted initial unemployment claims was 227,000, a decrease of 15,000 from the previous week.
Bank of Canada Lowers Interest Rate by 50 Basis Points
The Bank of Canada reduced its target for the overnight rate to 3.75%, with the Bank Rate at 4.0% and the deposit rate at 3.75%.
US Existing-Home Sales Decline 1.0% in September
Total US existing-home sales declined 1.0% in September to a seasonally adjusted annual rate of 3.84 million, NAR reported.
Mortgage Applications Decline the Week Ending October 18th, The Fourth Consecutive Drop
Mortgage loan application volume decreased 6.7% on a seasonally adjusted basis from one week earlier, MBA reported.
Commercial Real Estate and Multifamily Mortgage Delinquencies Trend Higher in Q3
The delinquency rates for mortgages backed by commercial properties increased slightly during Q3, MBA reported.
Canadian Industrial Product and Raw Materials Price Indices Decline in September
Prices for lumber and other wood products rose 1.2% in September, increasing for the second consecutive month. Higher prices for softwood lumber, up 3.2%, led the gain.