The construction labor market experienced a modest increase in job openings in February, the BLS and NAHB reported.
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US Job Openings and Labor Turnover Summary for February
As of the last business day in February, the number of job openings changed little at 8.8 million. The job opening rate was unchanged for the third consecutive month at 5.3%.
US Construction Spending Declines Month-Over-Month but Rises Year-Over-Year in February
Construction spending during February was estimated at a seasonally adjusted annual rate of $2,091.5 billion, 0.3% below the revised January estimate.
US First-Time Homebuyers in February Needed to Earn 8.2% More Than a Year Ago to Afford a Starter Home
US homebuyers needed to earn $75,849 annually to afford the typical starter home, up 8.2%, or $5,767, from February 2023.
US Mortgage Application Payments Trend Higher in February
The national medium payment applied for by applications increased 2.4%, from $2,134 in January to $2,184 in February, the MBA reported.
US Median Existing-Home Down Payment Up 24.1% Year-Over-Year in February
The median down payment for homebuyers was $55,640 in February, up 24.1% from $44,850 a year earlier, Redfin reported.
Canadian Real GDP Increases 0.6% in January
Canadian real GDP grew 0.6% in January, led by a rebound in educational services following the resolution of the public sector strikes in Quebec.
US Pending Homes Sales Increase Month-Over-Month in February, but Remain Lower Year-Over-Year
The National Association of Realtors Pending Homes Sales Index was 1.6% higher month-over-month in February.
US Fixed-Rate Mortgages Inch Lower in the Week Ending March 28th
The 30-year fixed-rate mortgage averaged 6.79%, down from last week when it averaged 6.87%, Freddie Mac reported.
US Weekly Jobless Claims Decline in the Week Ending March 23rd
The advance figure for seasonally adjusted initial claims was 210,000 during the week ending March 23rd, a decrease of 2,000.