The 30-year fixed-rate mortgage averaged 6.95%, down from last week when it averaged 7.03%, according to Freddie Mac.
News in end use
US Building Materials Costs in Residential Construction Creep Higher in November
The prices of goods used in residential construction, less energy, increased 0.2% in November, following a 0.4% decline in October, the NAHB and BLS reported.
Commercial and Multifamily Mortgage Debt Outstanding Increases by $37 Billion in Q3
In Q3, the level of commercial and multifamily mortgage debt outstanding increased 0.8% to $37.1 billion, the Mortgage Bankers Association reported.
Canadian Existing Home Sales Inch Lower Month-Over-Month and Year-Over-Year in November
The Canadian Real Estate Association announced that home sales recorded over Canadian MLS® Systems declined 0.9% from October to November.
US Weekly Jobless Claims Decline in the Week Ending December 9th
The advance figure for seasonally adjusted initial unemployment claims was 202,000 during the week ending Saturday, December 9th, a decrease of 19,000 from the previous week.
Associated Builders and Contractors Construction Backlog Indicator Edges Higher in November
The Associated Builders and Contractors Construction Backlog Indicator edged higher in November to 8.5 months, up from 8.4 months in October.
Canada Plans to Ramp Up Housing Construction Using Preapproved Home Designs
Canada intends to bring back a post-war effort to ramp up housing construction by developing a catalogue of pre-approved home designs, according to reporting by CBC.
Mortgage Applications Increase for Sixth Consecutive Week
Mortgage loan application volume increased 7.4% on a seasonally adjusted basis from one week earlier, according to the Mortgage Bankers Association.
Producer Price Index for Final Demand Unchanged Month-Over-Month but Up Year-Over-Year in November
The Producer Price Index (PPI) for final demand, seasonally adjusted, was unchanged in November, following a decline of 0.4% in October.
US Asking Rent Declines 2.1% Year-Over-Year in November
The median US asking rent declined 0.6% month-over-month and 2.1% year-over-year in November to $1,967, Redfin reported.