The 30-year fixed-rate mortgage averaged 7.03%, down from last week when it averaged 7.22%, Freddie Mac reported.
News in end use
Private Sector Job Cuts Increase Month-Over-Month but Decline Year-Over-Year in November
US-based employers announced 45,836 job cuts in November, a 24% increase from the 36,836 job cuts announced in October, according to the Challenger, Gray & Christmas, Inc.
US Weekly Jobless Claims Increase in the Week Ending December 2nd
The advance figure for seasonally adjusted initial unemployment claims was 220,000 during the week ending December 2nd, an increase of 1,000 from the previous week’s revised level of 219,000.
Mortgage Applications Increase Again in the Week Ending December 1st
Mortgage loan application volume increased 2.8% on a seasonally adjusted basis from one week earlier, according to data from the Mortgage Bankers Association.
Bank of Canada Holds Interest Rate Steady at 5% as Economy Continues to Cool
On Wednesday, the Governing Council of the Bank of Canada has decided to hold its benchmark interest rate steady at 5%, CBC reported.
ADP® Reports Increased Private Sector Employment and Compensation Gains in November
Nonfarm private sector employment increased by 103,000 jobs in November, and annual pay was up 5.6% year-over-year, according to the ADP® National Employment Report™.
Construction Sector Job Openings and Labor Turnover Survey Results for October
The construction labor market remained active and tight in October, according to NAHB analysis of Census Bureau data.
Commercial Mortgage Delinquency Rate Increases Again in Q3
The number of commercial mortgage delinquencies increased for the third consecutive quarter in Q3, the Mortgage Bankers Association reported.
US Job Openings and Labor Turnover Survey for October
As of the last business day in October, the number of job openings declined to 8.7 million, a loss of 617,000 job openings. The job opening rate decreased by 0.3 percentage points to 5.3%.
A Detailed Look at Private Residential Construction Spending in October
At a seasonally adjusted annual pace of $884 billion, total private residential construction spending was 0.7% higher year-over-year, according to the Census Bureau and NAHB.