The advance figure for seasonally adjusted initial unemployment claims was 207,000, a decline of 16,000 from the previous week’s unrevised level.
News in end use
Federal Reserve Holds Interest Rates Steady
At its FOMC meeting, the Federal Reserve decided to maintain the target range for the federal funds rate at 4.25–4.50%.
Bank of Canada Cuts Interest Rates and Updates GDP Projections for 2025
The Bank of Canada has reduced its target for the overnight rate to 3.0%, with the Bank Rate at 3.25% and the deposit rate at 2.95%.
State-Level Construction Employment Data for December
Construction sector employment (both residential and nonresidential) increased in 26 states in December. Overall, the industry added a net 8,000 jobs.
US Mortgage Applications Decline in the Week Ending January 24
Mortgage loan application volume decreased 2.0% on a seasonally adjusted basis from one week earlier, MBA reported.
FHFA House Price Index Rises 4.2% Year-Over-Year in November
FHFA reported that according to its seasonally adjusted House Price Index, US home prices rose 0.3% in November. Year-over-year, prices rose 4.2%.
US Consumer Confidence Index Declines for Second Consecutive Month in January
The Consumer Confidence Index declined 5.4 points to a reading of 104.1 in January. December’s reading was revised up by 4.8 points to a reading of 109.5.
S&P CoreLogic Case-Shiller Index Reports 3.8% Annual Gain in US Home Prices in November
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 3.8% in November, up from a gain of 3.6% in October.
US New Residential Single-Family Home Sales Increase 3.6% in December
New residential single-family home sales for December were at a seasonally adjusted annual rate of 698,000.
Canadian Real Estate Association Forecasts Rebound in Existing-Home Sales in 2025
CREA recently released its updated existing-home sales forecast for 2025, but it was little changed from the fall 2024 outlook.