News in end use

The National Association of Realtors Pending Homes Sales Index declined 1.5% in October from September to a reading of 71.4. Year-over-year, pending homes sales declined 8.5%.

The 30-year fixed-rate mortgage averaged 7.22%, down from last week when it averaged 7.29%, Freddie Mac said.

Homebuyer affordability declined in October, according to the Mortgage Bankers Association Purchase Applications Payment Index.

Canadian real gross domestic product (GDP) in Q3 declined 0.3% from Q2. The drop follows a 0.3% increase in Q2.

Personal income increased 0.2% in October; disposable personal income, personal income less personal current taxes, increased 0.3%; and ersonal consumption expenditures increased 0.2%.

The advance figure for seasonally adjusted initial unemployment claims was 218,000 during the week ending November 25th, an increase of 7,000 from the previous week.

The National Association of Home Builders (NAHB) reported that the total outstanding acquisition, development, and construction (AD&C) loan volume declined in Q3.

Mortgage loan application volume increased 0.3% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.

According to the BEA’s “second” estimate for Q3, GDP increased at an annual rate of 5.2%. This follows a reported real GDP increase of 2.1% in Q2.

The US Federal Housing Finance Agency (FHFA) announced the conforming loan limit values (CLLs) for mortgages Fannie Mae and Freddie Mac will acquire in 2024.