News in end use

The advance figure for seasonally adjusted initial unemployment claims was 205,000 during the week ending December 16th, an increase of 2,000 from the previous week’s revised level.

Total existing-home sales recorded a 0.8% increase in November from October to a seasonally adjusted rate of 3.82 million homes, the National Association of Realtors reported.

Mortgage loan application volume declined 1.5% on a seasonally adjusted basis from one week earlier, the Mortgage Bankers Association reported.

The Conference Board Consumer Confidence Index® rose to 110.7 (1985=100) in December, up from a downwardly revised November reading of 101.0.

The number of Canadians receiving regular Employment Insurance (EI) benefits in October changed little, increasing by 0.7%, or 2,900 persons, to 443,000.

Privately‐owned housing starts in November were at a seasonally adjusted annual rate (SAAR) of 1,560,000. This is 14.8% above the revised October estimate of 1,359,000.

In its December commentary, the ESR Group said single-family home sales likely bottomed out in 2023Q4 and are expected to begin a slow but meaningful recovery over the course of the next year.

Mortgage applications for new home purchases decreased 12.0% month-over-month in November but were up 21.8% year-over-year, the Mortgage Bankers Association reported.

The total number of loans in forbearance as of November 30th decreased 3 basis points to 0.26% of servicers’ portfolio volume, the Mortgage Bankers Association reported.