News in end use

The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in October, on a seasonally adjusted basis, after increasing 0.4% in September and 0.6% in August.

Data released by Rentals.ca and Urbanation shows that October’s annual rate of rent growth in Canada was down from the 11.1% jump posted in September, CKPGToday and the Canadian Press reported.

The October National Federation of Independent Business Small Business Optimism Index (SBOI) declined 0.1 points to a reading of 90.7.

According to Zillow, although mortgage rates remain close to 23-year highs and existing home inventory remains low, those factors seem to be spurring surprisingly strong competition.

The Dodge Construction Network released its October Dodge Momentum Index, a monthly measure of initial reports of nonresidential building projects in planning.

The availability of loans for Land Acquisition, Development & Construction continued to tighten in Q3, according to surveys by the Federal Reserve and NAHB.

The University of Michigan Index of Consumer Sentiment declined to a reading of 60.4 in November, down from 63.8 in October. This is a month-over-month decline of 5.3%.

Just 37.4% of new and existing homes sold during Q3 were affordable to families earning the US median income of $96,000, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.

The 30-year fixed-rate mortgage averaged 7.50%, down from last week when it averaged 7.76%, according to Freddie Mac.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of Q3, the Mortgage Bankers Association reported.