A homebuyer with a $3,000 monthly budget has gained nearly $40,000 in purchasing power since mortgage rates peaked last year, Redfin reported.
News in end use
Canadian Payroll Employment Declines in November
Canadian payroll employment declined by 88,300, or 0.5%, in November. This follows a decline of 24,000, or 0.1%, in October.
US Pending Home Sales Grow 8.3% Month-Over-Month in December
The National Association of Realtors® Pending Home Sales Index was 8.3% higher in December, climbing to a reading of 77.3.
US Existing-Home Prices Increased in the Early Weeks of 2024, Redfin Says
For the four-week period ending January 21st, the median sales price of US existing homes increased 5.1%, Redfin reported.
Personal Income, Disposable Income, and Personal Consumption Expenditures All Increase in December
Personal income (PI) increased 0.3% month-over-month in December; disposable personal income (DPI) increased 0.3%; and personal consumption expenditures (PCE) increased 0.7%.
New US Residential Single-Family Home Sales Up 8.0% Month-Over-Month in December
New residential single-family home sales were at a SAAR of 664,000 in December, 8.0% above November and 4.4% above December 2022.
Fixed-Rate Mortgages Climb in the Week Ending January 25th
The 30-year fixed-rate mortgage averaged 6.69%, up from last week when it averaged 6.60%, Freddie Mac reported.
Real GDP Increases at an Annual Rate of 3.3% in 2023Q4, BEA Reports in Its “Advance” Estimate
Real GDP increased at an annual rate of 3.3% in Q4, the BEA said in its “advance estimate. That follows a reported real GDP increase of 4.9% in Q3.
Mortgage Application Payments Move Lower in December
The Mortgage Bankers Association’s Purchase Applications Payment Index fell 3.8% to a reading of 161.8 in December, down from 168.2 in November.
US Weekly Jobless Claims Increase in the Week Ending January 20th
The advance figure for seasonally adjusted initial claims was 214,000 during the week ending January 20th, an increase of 25,000 from the previous week.